Cellebrite DI Ltd. (NASDAQ:CLBT) Sees Significant Increase in Short Interest

Cellebrite DI Ltd. (NASDAQ:CLBT) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 2,200,000 shares, an increase of 10.0% from the May 31st total of 2,000,000 shares. Based on an average trading volume of 981,200 shares, the short-interest ratio is presently 2.2 days. Currently, 3.6% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CLBT shares. Needham & Company LLC raised their price target on shares of Cellebrite DI from $13.50 to $14.00 and gave the stock a “buy” rating in a report on Friday, May 24th. JPMorgan Chase & Co. raised their price target on shares of Cellebrite DI from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Lake Street Capital started coverage on shares of Cellebrite DI in a report on Friday, April 19th. They issued a “buy” rating and a $13.00 price target for the company. Craig Hallum raised their price target on shares of Cellebrite DI from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, William Blair raised shares of Cellebrite DI from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $13.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new position in Cellebrite DI in the first quarter valued at $654,000. California State Teachers Retirement System grew its position in shares of Cellebrite DI by 9.1% in the first quarter. California State Teachers Retirement System now owns 56,953 shares of the company’s stock valued at $631,000 after purchasing an additional 4,734 shares during the period. Ashford Capital Management Inc. grew its position in shares of Cellebrite DI by 23.5% in the first quarter. Ashford Capital Management Inc. now owns 1,841,240 shares of the company’s stock valued at $20,401,000 after purchasing an additional 350,140 shares during the period. Lazard Asset Management LLC grew its position in shares of Cellebrite DI by 28.7% in the first quarter. Lazard Asset Management LLC now owns 21,697 shares of the company’s stock valued at $240,000 after purchasing an additional 4,842 shares during the period. Finally, PEAK6 Investments LLC acquired a new stake in shares of Cellebrite DI in the first quarter valued at about $319,000. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Cellebrite DI Price Performance

Shares of Cellebrite DI stock opened at $12.14 on Tuesday. The firm has a fifty day moving average price of $11.33 and a 200 day moving average price of $10.52. Cellebrite DI has a 1 year low of $6.36 and a 1 year high of $12.67. The stock has a market cap of $2.50 billion, a PE ratio of -20.93, a price-to-earnings-growth ratio of 1.63 and a beta of 1.50.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings data on Thursday, May 23rd. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Cellebrite DI had a negative net margin of 32.57% and a positive return on equity of 417.94%. The company had revenue of $89.60 million during the quarter, compared to analysts’ expectations of $85.34 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. As a group, equities analysts expect that Cellebrite DI will post 0.34 EPS for the current year.

About Cellebrite DI

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.