Mobix Labs (NASDAQ:MOBX) Shares Down 3% – Time to Sell?

Mobix Labs, Inc. (NASDAQ:MOBX) shares fell 3% during mid-day trading on Tuesday . The company traded as low as $0.92 and last traded at $0.96. 135,266 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 226,649 shares. The stock had previously closed at $0.99.

Mobix Labs Price Performance

The business has a fifty day moving average of $1.03 and a 200-day moving average of $1.71.

Mobix Labs (NASDAQ:MOBX) last issued its earnings results on Wednesday, August 14th. The company reported ($0.25) earnings per share (EPS) for the quarter. The company had revenue of $2.06 million during the quarter.

Hedge Funds Weigh In On Mobix Labs

A number of large investors have recently modified their holdings of the company. Connective Capital Management LLC bought a new position in shares of Mobix Labs in the 1st quarter worth $45,000. Wedbush Securities Inc. purchased a new stake in Mobix Labs in the 2nd quarter valued at $62,000. Finally, Vanguard Capital Wealth Advisors purchased a new stake in Mobix Labs in the 1st quarter valued at $255,000. 8.56% of the stock is currently owned by institutional investors.

Mobix Labs Company Profile

Mobix Labs, Inc, a fabless semiconductor company, provides wireless and connectivity solutions for next generation communication systems, including C-Band and mmWave 5G and high bandwidth cable applications. Its products include True5G chipset solutions; true xero active optical cables and related products designed to deliver fiber optic connectivity for a range of applications, including 5G infrastructure, autonomous vehicles, Pro A/V, AR/VR, remote medical systems, and others; electromagnetic interference filters deployed in aerospace, military, defense, medical, and healthcare products.