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

Cellebrite DI Ltd. (NASDAQ:CLBT) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,750,000 shares, a growth of 15.9% from the October 31st total of 1,510,000 shares. Based on an average daily trading volume, of 1,290,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 2.0% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its stake in Cellebrite DI by 9.1% in the first quarter. California State Teachers Retirement System now owns 56,953 shares of the company’s stock valued at $631,000 after buying an additional 4,734 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Cellebrite DI in the first quarter valued at about $654,000. Harbor Capital Advisors Inc. raised its holdings in Cellebrite DI by 311.5% during the second quarter. Harbor Capital Advisors Inc. now owns 48,624 shares of the company’s stock worth $581,000 after acquiring an additional 36,808 shares in the last quarter. Juncture Wealth Strategies LLC acquired a new position in Cellebrite DI during the second quarter valued at approximately $500,000. Finally, Tower View Wealth Management LLC grew its stake in Cellebrite DI by 6.2% in the second quarter. Tower View Wealth Management LLC now owns 129,147 shares of the company’s stock valued at $1,543,000 after purchasing an additional 7,542 shares in the last quarter. 45.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on CLBT. TD Cowen raised their price target on shares of Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Bank of America lifted their target price on Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Lake Street Capital raised their price objective on Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Needham & Company LLC boosted their price objective on Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cellebrite DI from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cellebrite DI currently has a consensus rating of “Buy” and an average price target of $20.29.

Cellebrite DI Price Performance

Shares of NASDAQ:CLBT traded up $0.04 during trading on Tuesday, reaching $20.40. The stock had a trading volume of 853,764 shares, compared to its average volume of 1,190,230. The stock has a market capitalization of $4.20 billion, a PE ratio of -13.16, a P/E/G ratio of 2.77 and a beta of 1.51. Cellebrite DI has a 52 week low of $7.91 and a 52 week high of $21.00. The business’s 50-day moving average price is $18.35 and its 200 day moving average price is $15.31.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The firm had revenue of $106.90 million during the quarter, compared to the consensus estimate of $102.06 million. During the same quarter in the previous year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. Analysts forecast that Cellebrite DI will post 0.32 EPS for the current 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.