Short Interest in Cellebrite DI Ltd. (NASDAQ:CLBT) Grows By 29.6%

Cellebrite DI Ltd. (NASDAQ:CLBT) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,900,000 shares, a growth of 29.6% from the August 15th total of 3,010,000 shares. Currently, 5.9% of the company’s shares are sold short. Based on an average trading volume of 1,550,000 shares, the short-interest ratio is presently 2.5 days.

Hedge Funds Weigh In On Cellebrite DI

A number of large investors have recently bought and sold shares of CLBT. IGP Investments G.P.L.P LP bought a new stake in shares of Cellebrite DI in the fourth quarter worth $182,619,000. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Cellebrite DI by 7.8% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,086,158 shares of the company’s stock valued at $56,446,000 after acquiring an additional 514,858 shares during the last quarter. Crosslink Capital Inc. raised its holdings in Cellebrite DI by 1.4% during the fourth quarter. Crosslink Capital Inc. now owns 3,240,480 shares of the company’s stock worth $28,063,000 after acquiring an additional 44,520 shares in the last quarter. Acadian Asset Management LLC boosted its position in Cellebrite DI by 26.8% during the first quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock valued at $32,062,000 after purchasing an additional 612,787 shares during the last quarter. Finally, Ashford Capital Management Inc. grew its stake in Cellebrite DI by 23.5% in the first quarter. Ashford Capital Management Inc. now owns 1,841,240 shares of the company’s stock valued at $20,401,000 after purchasing an additional 350,140 shares in the last quarter. Institutional investors and hedge funds own 45.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CLBT shares. Craig Hallum increased their price target on Cellebrite DI from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised their target price on Cellebrite DI from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on Cellebrite DI from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Lake Street Capital boosted their price objective on shares of Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Needham & Company LLC increased their target price on shares of Cellebrite DI from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $17.33.

Cellebrite DI Price Performance

CLBT traded up $0.55 during trading on Friday, reaching $17.51. The company had a trading volume of 741,596 shares, compared to its average volume of 1,358,013. The company has a market cap of $3.61 billion, a P/E ratio of -30.19, a PEG ratio of 2.33 and a beta of 1.52. Cellebrite DI has a 12 month low of $6.36 and a 12 month high of $17.54. The business’s fifty day moving average price is $14.59 and its 200 day moving average price is $12.48.

Cellebrite DI (NASDAQ:CLBT) last announced its earnings results on Thursday, August 15th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 5,902.06%. The firm had revenue of $95.70 million during the quarter, compared to analyst estimates of $91.94 million. During the same period in the prior year, the business earned $0.05 EPS. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, sell-side analysts predict that Cellebrite DI will post 0.31 EPS for the current fiscal year.

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.