indie Semiconductor, Inc. (NASDAQ:INDI) Short Interest Up 5.1% in December

indie Semiconductor, Inc. (NASDAQ:INDI) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 45,200,000 shares, a growth of 5.1% from the December 15th total of 43,010,000 shares. Currently, 25.2% of the company’s shares are short sold. Based on an average daily trading volume, of 4,900,000 shares, the short-interest ratio is presently 9.2 days.

Analyst Ratings Changes

A number of research firms recently weighed in on INDI. Roth Mkm lowered their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Benchmark decreased their price target on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, indie Semiconductor has a consensus rating of “Buy” and a consensus target price of $8.92.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $4.37 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. indie Semiconductor has a 52 week low of $3.16 and a 52 week high of $7.82. The stock has a market capitalization of $882.39 million, a PE ratio of -6.52 and a beta of 1.41. The firm has a 50 day moving average of $4.41 and a two-hundred day moving average of $4.41.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). indie Semiconductor had a negative net margin of 49.88% and a negative return on equity of 24.04%. The business had revenue of $53.97 million during the quarter, compared to analysts’ expectations of $53.65 million. During the same period in the prior year, the business earned ($0.17) EPS. On average, research analysts predict that indie Semiconductor will post -0.74 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In related news, COO Michael Wittmann sold 18,375 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total transaction of $75,337.50. Following the completion of the transaction, the chief operating officer now owns 28,860 shares of the company’s stock, valued at approximately $118,326. This trade represents a 38.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $4.31, for a total transaction of $215,500.00. Following the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at $79,092.81. The trade was a 73.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,593 shares of company stock worth $1,272,291 in the last 90 days. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Artemis Investment Management LLP raised its holdings in shares of indie Semiconductor by 482.7% in the 4th quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock valued at $26,486,000 after purchasing an additional 5,417,296 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of indie Semiconductor in the 4th quarter valued at $74,000. Moody National Bank Trust Division raised its holdings in shares of indie Semiconductor by 2.3% in the 4th quarter. Moody National Bank Trust Division now owns 650,810 shares of the company’s stock valued at $2,636,000 after purchasing an additional 14,500 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of indie Semiconductor by 4.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,333,220 shares of the company’s stock valued at $13,500,000 after purchasing an additional 137,310 shares in the last quarter. Finally, 272 Capital LP acquired a new stake in indie Semiconductor during the 3rd quarter worth $511,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

About indie Semiconductor

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.