Short Interest in Mobix Labs, Inc. (NASDAQ:MOBX) Rises By 191.2%

Mobix Labs, Inc. (NASDAQ:MOBX) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 4,064,744 shares, a growth of 191.2% from the April 30th total of 1,395,656 shares. Based on an average daily trading volume, of 15,803,053 shares, the short-interest ratio is currently 0.3 days. Currently, 47.4% of the company’s shares are sold short.

Hedge Funds Weigh In On Mobix Labs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOBX. Armistice Capital LLC acquired a new position in Mobix Labs in the 2nd quarter worth $3,272,000. Focus Partners Wealth boosted its stake in Mobix Labs by 64.3% in the 1st quarter. Focus Partners Wealth now owns 1,642,857 shares of the company’s stock worth $1,467,000 after purchasing an additional 642,857 shares during the period. Toronto Dominion Bank acquired a new position in Mobix Labs in the 4th quarter worth $27,000. Mariner LLC boosted its stake in Mobix Labs by 103.5% in the 4th quarter. Mariner LLC now owns 135,453 shares of the company’s stock worth $36,000 after purchasing an additional 68,879 shares during the period. Finally, Virtu Financial LLC boosted its stake in Mobix Labs by 247.8% in the 4th quarter. Virtu Financial LLC now owns 94,011 shares of the company’s stock worth $25,000 after purchasing an additional 66,982 shares during the period. 8.56% of the stock is owned by institutional investors and hedge funds.

Mobix Labs Stock Down 1.1%

NASDAQ MOBX traded down $0.03 on Friday, reaching $2.40. The company had a trading volume of 672,371 shares, compared to its average volume of 9,562,748. The firm has a market capitalization of $24.79 million, a price-to-earnings ratio of -0.35 and a beta of -0.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.17 and a current ratio of 0.23. Mobix Labs has a 1-year low of $1.31 and a 1-year high of $14.40. The company’s fifty day moving average is $2.88 and its 200-day moving average is $3.54.

Mobix Labs (NASDAQ:MOBX) last announced its earnings results on Wednesday, May 20th. The company reported ($0.59) earnings per share for the quarter. The company had revenue of $0.97 million during the quarter. Mobix Labs had a negative return on equity of 1,175.77% and a negative net margin of 361.77%.

Wall Street Analyst Weigh In

MOBX has been the subject of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Mobix Labs in a report on Tuesday, April 21st. Wall Street Zen raised shares of Mobix Labs to a “sell” rating in a report on Saturday, March 7th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

About Mobix Labs

Mobix Labs, Inc (NASDAQ: MOBX) is a technology company specializing in device intelligence software and services for the mobile device lifecycle. The company’s core platform enables real-time testing, authentication and diagnostic verification of smartphones and other connected devices. By combining automated testing tools with data analytics, Mobix Labs helps carriers, retailers, original equipment manufacturers (OEMs) and repair centers streamline operations and reduce return rates, fraud and waste.

Mobix Labs offers a suite of products designed to support the full spectrum of device management.