Short Interest in Cellebrite DI Ltd. (NASDAQ:CLBT) Rises By 5.9%

Cellebrite DI Ltd. (NASDAQ:CLBT) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 1,430,000 shares, a growth of 5.9% from the September 30th total of 1,350,000 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average daily trading volume, of 1,260,000 shares, the days-to-cover ratio is presently 1.1 days.

Wall Street Analyst Weigh In

CLBT has been the topic of several recent analyst reports. Bank of America increased their price objective on shares of Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their price objective on shares of Cellebrite DI from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Needham & Company LLC increased their target price on Cellebrite DI from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Lake Street Capital boosted their price target on Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, TD Cowen upped their price target on Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $18.57.

Cellebrite DI Trading Down 1.1 %

Shares of Cellebrite DI stock opened at $18.15 on Friday. The company has a fifty day moving average price of $17.41 and a 200 day moving average price of $13.94. Cellebrite DI has a twelve month low of $6.55 and a twelve month high of $18.75. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -34.25, a price-to-earnings-growth ratio of 2.52 and a beta of 1.52.

Cellebrite DI (NASDAQ:CLBT) last posted its earnings results on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $95.70 million during the quarter, compared to analyst estimates of $91.94 million. Cellebrite DI had a positive return on equity of 5,902.06% and a negative net margin of 28.51%. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 earnings per share. Analysts forecast that Cellebrite DI will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Cellebrite DI by 59.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock worth $33,000 after acquiring an additional 1,017 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Cellebrite DI during the 2nd quarter valued at approximately $71,000. Pathway Financial Advisers LLC grew its position in shares of Cellebrite DI by 1,583.8% during the third quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock worth $74,000 after buying an additional 4,118 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Cellebrite DI in the second quarter worth $103,000. Finally, TD Asset Management Inc acquired a new stake in Cellebrite DI in the second quarter valued at $121,000. 45.88% of the stock is owned by institutional investors and hedge funds.

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.