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

Cellebrite DI Ltd. (NASDAQ:CLBT) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,070,000 shares, a growth of 17.6% from the February 13th total of 909,700 shares. Based on an average daily volume of 1,790,000 shares, the days-to-cover ratio is currently 0.6 days. Currently, 1.4% of the shares of the stock are short sold.

Cellebrite DI Stock Up 2.7 %

Shares of CLBT stock traded up $0.50 during mid-day trading on Wednesday, reaching $19.02. 592,500 shares of the stock traded hands, compared to its average volume of 1,117,713. The stock’s fifty day simple moving average is $21.27 and its two-hundred day simple moving average is $19.75. Cellebrite DI has a 1-year low of $10.25 and a 1-year high of $26.30. The company has a market cap of $3.92 billion, a price-to-earnings ratio of -13.67, a price-to-earnings-growth ratio of 4.27 and a beta of 1.52.

Cellebrite DI (NASDAQ:CLBT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 58.70% and a negative net margin of 70.54%. On average, equities research analysts anticipate that Cellebrite DI will post 0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Cellebrite DI

Several institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Cellebrite DI during the 3rd quarter worth approximately $27,000. Advisors Asset Management Inc. grew its holdings in Cellebrite DI by 130.5% in the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after purchasing an additional 1,742 shares during the period. Gen Wealth Partners Inc bought a new stake in Cellebrite DI in the fourth quarter valued at $85,000. NewEdge Advisors LLC raised its holdings in shares of Cellebrite DI by 600.7% during the fourth quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock valued at $86,000 after purchasing an additional 3,352 shares during the period. Finally, R Squared Ltd bought a new position in shares of Cellebrite DI during the 4th quarter worth about $100,000. 45.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CLBT has been the subject of a number of research analyst reports. Lake Street Capital upped their price objective on shares of Cellebrite DI from $17.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Cellebrite DI in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. boosted their price objective on Cellebrite DI from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $23.43.

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.