Short Interest in Cellebrite DI Ltd. (NASDAQ:CLBT) Drops By 5.3%

Cellebrite DI Ltd. (NASDAQ:CLBT) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 2,480,000 shares, a drop of 5.3% from the March 15th total of 2,620,000 shares. Approximately 4.5% of the shares of the stock are short sold. Based on an average trading volume of 998,300 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Investors Weigh In On Cellebrite DI

Several large investors have recently added to or reduced their stakes in CLBT. IGP Investments G.P.L.P LP bought a new stake in Cellebrite DI in the fourth quarter valued at $182,619,000. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Cellebrite DI by 7.8% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,086,158 shares of the company’s stock valued at $56,446,000 after buying an additional 514,858 shares during the period. Crosslink Capital Inc. grew its stake in shares of Cellebrite DI by 1.4% in the 4th quarter. Crosslink Capital Inc. now owns 3,240,480 shares of the company’s stock valued at $28,063,000 after buying an additional 44,520 shares during the period. Morgan Stanley increased its position in Cellebrite DI by 8.3% in the 3rd quarter. Morgan Stanley now owns 2,334,893 shares of the company’s stock valued at $17,862,000 after buying an additional 178,058 shares in the last quarter. Finally, Voss Capital LLC raised its stake in Cellebrite DI by 207.7% during the 4th quarter. Voss Capital LLC now owns 1,835,000 shares of the company’s stock worth $15,891,000 after buying an additional 1,238,580 shares during the period. Institutional investors and hedge funds own 45.88% of the company’s stock.

Cellebrite DI Stock Performance

NASDAQ:CLBT opened at $10.38 on Tuesday. Cellebrite DI has a 52 week low of $5.22 and a 52 week high of $12.50. The firm’s fifty day moving average is $11.15 and its 200-day moving average is $9.13. The firm has a market cap of $2.13 billion, a P/E ratio of -24.14, a P/E/G ratio of 1.86 and a beta of 1.54.

Cellebrite DI (NASDAQ:CLBT) 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 negative net margin of 24.94% and a positive return on equity of 173.14%. The business 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.

Analyst Ratings Changes

Several research firms have recently weighed in on CLBT. Craig Hallum boosted their price target on Cellebrite DI from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Bank of America upped their price target on shares of Cellebrite DI from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, April 1st. William Blair upgraded shares of Cellebrite DI from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 13th. Finally, Needham & Company LLC increased their price objective on Cellebrite DI from $13.00 to $13.50 and gave the company a “buy” rating in a report on Thursday, March 28th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $12.30.

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.