Short Interest in indie Semiconductor, Inc. (NASDAQ:INDI) Increases By 5.1%

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

indie Semiconductor Price Performance

Shares of INDI stock opened at $4.00 on Tuesday. The stock’s fifty day simple moving average is $4.33 and its 200 day simple moving average is $4.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. indie Semiconductor has a one year low of $3.16 and a one year high of $7.82. The firm has a market cap of $807.68 million, a price-to-earnings ratio of -5.97 and a beta of 1.41.

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

Insider Activity

In other news, CEO Donald Mcclymont sold 200,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total transaction of $942,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at $86,433.21. This trade represents a 91.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael Wittmann sold 18,375 shares of indie Semiconductor stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $4.10, for a total value of $75,337.50. Following the completion of the transaction, the chief operating officer now directly owns 28,860 shares in the company, valued at $118,326. This represents a 38.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,593 shares of company stock valued at $1,272,291. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds have recently modified their holdings of the stock. Primecap Management Co. CA boosted its holdings in shares of indie Semiconductor by 61.4% in the 3rd quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock valued at $101,619,000 after buying an additional 9,689,326 shares during the last quarter. Artemis Investment Management LLP lifted its stake in indie Semiconductor by 482.7% in the fourth quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock valued at $26,486,000 after acquiring an additional 5,417,296 shares during the last quarter. Elemental Capital Partners LLC acquired a new stake in indie Semiconductor in the fourth quarter valued at $14,272,000. Harbor Capital Advisors Inc. grew its position in shares of indie Semiconductor by 290.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock valued at $12,752,000 after acquiring an additional 2,377,612 shares during the period. Finally, Harber Asset Management LLC acquired a new position in shares of indie Semiconductor during the 3rd quarter worth about $3,406,000. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INDI. UBS Group started coverage on indie Semiconductor in a research note on Friday, January 24th. They set a “neutral” rating and a $4.50 price target for the company. Benchmark decreased their target price on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Roth Mkm decreased their price target on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, indie Semiconductor presently has an average rating of “Moderate Buy” and an average target price of $8.29.

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.