Mobix Labs (NASDAQ:MOBX) Stock Price Down 4.2% – Here’s What Happened

Mobix Labs, Inc. (NASDAQ:MOBX)’s share price dropped 4.2% during trading on Monday . The stock traded as low as $0.2107 and last traded at $0.23. Approximately 5,859,603 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 26,900,268 shares. The stock had previously closed at $0.24.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mobix Labs in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Mobix Labs Price Performance

The firm has a fifty day moving average of $0.33 and a two-hundred day moving average of $0.65. The stock has a market capitalization of $15.25 million, a P/E ratio of -0.22 and a beta of -0.09. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.24 and a quick ratio of 0.19.

Insider Buying and Selling at Mobix Labs

In other news, CFO Keyvan Samini sold 211,672 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $0.32, for a total transaction of $67,735.04. Following the transaction, the chief financial officer directly owned 2,671,661 shares in the company, valued at approximately $854,931.52. This trade represents a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 32.03% of the company’s stock.

Institutional Trading of Mobix Labs

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC purchased a new position in shares of Mobix Labs in the 2nd quarter valued at $3,272,000. Focus Partners Wealth boosted its position in Mobix Labs by 64.3% during the first quarter. Focus Partners Wealth now owns 1,642,857 shares of the company’s stock valued at $1,467,000 after purchasing an additional 642,857 shares in the last quarter. Vanguard Capital Wealth Advisors grew its stake in Mobix Labs by 39.7% in the third quarter. Vanguard Capital Wealth Advisors now owns 1,328,716 shares of the company’s stock valued at $1,071,000 after purchasing an additional 377,735 shares during the last quarter. Beacon Pointe Advisors LLC raised its holdings in Mobix Labs by 432.7% in the second quarter. Beacon Pointe Advisors LLC now owns 108,017 shares of the company’s stock worth $83,000 after purchasing an additional 87,738 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Mobix Labs by 17.3% during the fourth quarter. Geode Capital Management LLC now owns 426,198 shares of the company’s stock valued at $114,000 after buying an additional 62,715 shares during the last quarter. Institutional investors own 8.56% of the company’s stock.

About Mobix Labs

Mobix Labs, Inc (NASDAQ: MOBX) is a technology company specializing in device intelligence software and services for the mobile device lifecycle. The company’s core platform enables real-time testing, authentication and diagnostic verification of smartphones and other connected devices. By combining automated testing tools with data analytics, Mobix Labs helps carriers, retailers, original equipment manufacturers (OEMs) and repair centers streamline operations and reduce return rates, fraud and waste.

Mobix Labs offers a suite of products designed to support the full spectrum of device management.