Short Interest in Cellebrite DI Ltd. (NASDAQ:CLBT) Drops By 40.9%

Cellebrite DI Ltd. (NASDAQ:CLBT) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 1,070,000 shares, a decline of 40.9% from the May 15th total of 1,810,000 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,260,000 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Investors Weigh In On Cellebrite DI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Assetmark Inc. bought a new stake in Cellebrite DI during the first quarter worth about $33,000. Catalyst Capital Advisors LLC bought a new stake in Cellebrite DI in the 1st quarter worth $51,000. Virtus Advisers LLC purchased a new position in Cellebrite DI during the 1st quarter valued at about $63,000. Gen Wealth Partners Inc purchased a new stake in Cellebrite DI in the fourth quarter worth $85,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Cellebrite DI by 600.7% during the 4th quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock valued at $86,000 after purchasing an additional 3,352 shares in the last quarter. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Cellebrite DI Price Performance

NASDAQ CLBT traded up $0.15 during mid-day trading on Monday, reaching $15.93. 1,547,682 shares of the stock were exchanged, compared to its average volume of 1,476,216. Cellebrite DI has a one year low of $11.47 and a one year high of $26.30. The stock has a 50 day simple moving average of $18.14 and a 200-day simple moving average of $19.95. The stock has a market cap of $3.81 billion, a P/E ratio of -11.46, a P/E/G ratio of 4.27 and a beta of 1.32.

Cellebrite DI (NASDAQ:CLBT) last posted its earnings results on Wednesday, May 14th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Cellebrite DI had a negative net margin of 70.54% and a positive return on equity of 58.70%. The firm had revenue of $107.55 million for the quarter, compared to analysts’ expectations of $109.36 million. During the same quarter last year, the firm earned $0.08 EPS. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. Sell-side analysts anticipate that Cellebrite DI will post 0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Cellebrite DI from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, May 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Cellebrite DI in a research report on Friday, June 6th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $22.43.

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.