Short Interest in Cellebrite DI Ltd. (NASDAQ:CLBT) Grows By 17.6%

Cellebrite DI Ltd. (NASDAQ:CLBT) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,070,000 shares, an increase of 17.6% from the February 13th total of 909,700 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 1,790,000 shares, the days-to-cover ratio is presently 0.6 days.

Hedge Funds Weigh In On Cellebrite DI

Several institutional investors and hedge funds have recently bought and sold shares of CLBT. Quarry LP bought a new position in shares of Cellebrite DI in the third quarter worth $27,000. Advisors Asset Management Inc. raised its position in Cellebrite DI by 130.5% during the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock valued at $52,000 after purchasing an additional 1,742 shares in the last quarter. Gen Wealth Partners Inc purchased a new stake in Cellebrite DI during the fourth quarter valued at about $85,000. NewEdge Advisors LLC raised its position in Cellebrite DI by 600.7% during the fourth quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock valued at $86,000 after purchasing an additional 3,352 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Cellebrite DI during the fourth quarter valued at about $100,000. 45.88% of the stock is owned by institutional investors.

Cellebrite DI Trading Up 0.2 %

Shares of NASDAQ CLBT opened at $19.04 on Friday. The stock has a fifty day simple moving average of $21.16 and a two-hundred day simple moving average of $19.74. Cellebrite DI has a 1-year low of $10.25 and a 1-year high of $26.30. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -13.70, a price-to-earnings-growth ratio of 4.27 and a beta of 1.52.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). Cellebrite DI had a negative net margin of 70.54% and a positive return on equity of 58.70%. Analysts forecast that Cellebrite DI will post 0.3 EPS for the current year.

Analysts Set New Price Targets

CLBT has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of Cellebrite DI in a research note on Monday, March 10th. Lake Street Capital upped their target price on Cellebrite DI from $17.00 to $26.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. upped their target price on Cellebrite DI from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Cellebrite DI currently has an average rating of “Buy” and an average target price of $23.43.

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.