Short Interest in Valens Semiconductor Ltd. (NYSE:VLN) Drops By 22.0%

Valens Semiconductor Ltd. (NYSE:VLN) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 278,800 shares, a decline of 22.0% from the February 13th total of 357,400 shares. Based on an average daily volume of 658,100 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the shares of the company are short sold.

Valens Semiconductor Stock Up 3.5 %

VLN stock traded up $0.08 during trading on Tuesday, reaching $2.20. 198,544 shares of the company’s stock were exchanged, compared to its average volume of 377,835. Valens Semiconductor has a 1-year low of $1.67 and a 1-year high of $3.50. The company’s fifty day moving average price is $2.57 and its 200-day moving average price is $2.24. The firm has a market cap of $233.42 million, a PE ratio of -8.78 and a beta of 0.34.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VLN. Value Base Ltd. acquired a new position in Valens Semiconductor during the 4th quarter worth $53,672,000. IGP Investments G.P.L.P LP acquired a new stake in shares of Valens Semiconductor in the fourth quarter valued at $8,996,000. Millennium Management LLC lifted its holdings in shares of Valens Semiconductor by 389.8% in the fourth quarter. Millennium Management LLC now owns 614,577 shares of the company’s stock valued at $1,598,000 after buying an additional 489,108 shares during the period. Sphera Management Technology Funds Ltd acquired a new stake in shares of Valens Semiconductor in the fourth quarter valued at $1,030,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Valens Semiconductor by 41.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,001,930 shares of the company’s stock valued at $2,605,000 after buying an additional 293,230 shares during the period. Institutional investors and hedge funds own 33.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, ThinkEquity upgraded Valens Semiconductor to a “strong-buy” rating in a research report on Monday, December 2nd.

About Valens Semiconductor

Valens Semiconductor Ltd. engages in the provision of semiconductor products for the audio-video and automotive industries. The company offers HDBaseT technology, which enables the simultaneous delivery of ultra-high-definition digital video and audio, Ethernet, USB, control signals, and power through a single long-reach cable.