Cellebrite DI Ltd. (NASDAQ:CLBT) Sees Significant Growth in Short Interest

Cellebrite DI Ltd. (NASDAQ:CLBTGet Free Report) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,620,000 shares, a growth of 11.5% from the February 29th total of 2,350,000 shares. Based on an average daily trading volume, of 978,000 shares, the days-to-cover ratio is presently 2.7 days. Approximately 4.7% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CLBT shares. Craig Hallum lifted their price objective on shares of Cellebrite DI from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC boosted their price target on shares of Cellebrite DI from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Thursday, March 28th. Bank of America increased their price objective on shares of Cellebrite DI from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Monday. Finally, William Blair raised shares of Cellebrite DI from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cellebrite DI presently has an average rating of “Buy” and a consensus target price of $12.30.

Get Our Latest Research Report on Cellebrite DI

Cellebrite DI Stock Down 1.6 %

CLBT opened at $10.83 on Wednesday. Cellebrite DI has a twelve month low of $5.22 and a twelve month high of $12.50. The company’s 50-day moving average price is $10.83 and its two-hundred day moving average price is $8.91. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -25.19, a PEG ratio of 1.94 and a beta of 1.53.

Cellebrite DI (NASDAQ:CLBTGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Cellebrite DI had a positive return on equity of 173.14% and a negative net margin of 24.94%. The firm had revenue of $93.01 million for the quarter, compared to analysts’ expectations of $85.43 million. As a group, sell-side analysts anticipate that Cellebrite DI will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Cellebrite DI

A number of institutional investors have recently added to or reduced their stakes in the business. Brasada Capital Management LP lifted its position in Cellebrite DI by 125.1% during the third quarter. Brasada Capital Management LP now owns 375,332 shares of the company’s stock valued at $2,762,000 after purchasing an additional 208,566 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Cellebrite DI during the 3rd quarter worth $50,270,000. Swiss National Bank grew its position in Cellebrite DI by 30.7% in the third quarter. Swiss National Bank now owns 107,800 shares of the company’s stock worth $825,000 after acquiring an additional 25,300 shares in the last quarter. New York State Common Retirement Fund increased its stake in Cellebrite DI by 166.0% in the third quarter. New York State Common Retirement Fund now owns 15,440 shares of the company’s stock valued at $118,000 after acquiring an additional 9,635 shares during the last quarter. Finally, Meitav Investment House Ltd. bought a new position in Cellebrite DI in the third quarter valued at $2,399,000. 45.88% of the stock is currently owned by institutional investors.

Cellebrite DI Company Profile

(Get Free Report)

Cellebrite DI Ltd. develops solutions for legally sanctioned investigations in Europe, the Middle East, Africa, the United States, and the Asia-Pacific. Its DI suite of solutions allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations and solutions are used in a various case, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, intellectual property theft, and civil litigation.

Further Reading

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