Cellebrite DI Ltd. (NASDAQ:CLBT) Sees Large Growth in Short Interest

Cellebrite DI Ltd. (NASDAQ:CLBT) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,070,000 shares, a growth of 17.6% from the February 13th total of 909,700 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average trading volume of 1,790,000 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On Cellebrite DI

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP purchased a new stake in Cellebrite DI in the 3rd quarter worth approximately $27,000. Advisors Asset Management Inc. increased its holdings in shares of Cellebrite DI by 130.5% in the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after purchasing an additional 1,742 shares during the period. Gen Wealth Partners Inc purchased a new stake in shares of Cellebrite DI in the fourth quarter worth $85,000. NewEdge Advisors LLC boosted its stake in Cellebrite DI by 600.7% during the fourth quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock valued at $86,000 after buying an additional 3,352 shares during the period. Finally, R Squared Ltd purchased a new position in Cellebrite DI during the fourth quarter worth about $100,000. 45.88% of the stock is owned by hedge funds and other institutional investors.

Cellebrite DI Price Performance

Shares of CLBT stock opened at $19.01 on Thursday. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -13.68, a PEG ratio of 4.27 and a beta of 1.52. The company’s fifty day simple moving average is $21.22 and its two-hundred day simple moving average is $19.75. Cellebrite DI has a 1 year low of $10.25 and a 1 year high of $26.30.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 58.70% and a negative net margin of 70.54%. Equities research analysts anticipate that Cellebrite DI will post 0.3 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Lake Street Capital upped their price objective on Cellebrite DI from $17.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. increased their price target on shares of Cellebrite DI from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Cellebrite DI in a research report on Monday, March 10th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cellebrite DI presently has an average rating of “Buy” and a consensus target price of $23.43.

Cellebrite DI Company Profile

Cellebrite DI Ltd. develops solutions for legally sanctioned investigations in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. The company's DI suite of solutions allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations used in various cases, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, cryptocurrency, and intellectual property theft.