Cellebrite DI Ltd. (NASDAQ:CLBT) Sees Large Increase in Short Interest

Cellebrite DI Ltd. (NASDAQ:CLBT) saw a large growth in short interest in 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. Currently, 2.0% of the shares of the company are sold short. Based on an average daily volume of 1,290,000 shares, the short-interest ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CLBT. Craig Hallum increased their price target on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Cellebrite DI from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC upped their price target on shares of Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Bank of America boosted their price objective on Cellebrite DI from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, TD Cowen raised their target price on Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $20.29.

Cellebrite DI Stock Performance

Shares of Cellebrite DI stock traded up $0.29 on Friday, hitting $20.18. The company’s stock had a trading volume of 1,052,063 shares, compared to its average volume of 1,798,695. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of -13.02, a price-to-earnings-growth ratio of 2.75 and a beta of 1.50. The firm has a fifty day moving average price of $18.22 and a 200-day moving average price of $15.18. Cellebrite DI has a 1 year low of $7.91 and a 1 year high of $21.00.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. 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 prior year, the firm earned $0.09 EPS. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. As a group, analysts forecast that Cellebrite DI will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Cellebrite DI

Large investors have recently modified their holdings of the business. Quarry LP acquired a new position in shares of Cellebrite DI during the 3rd quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. lifted its position in Cellebrite DI by 59.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock worth $33,000 after buying an additional 1,017 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Cellebrite DI by 130.5% during the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after buying an additional 1,742 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in Cellebrite DI by 1,583.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock valued at $74,000 after buying an additional 4,118 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Cellebrite DI in the 2nd quarter worth $71,000. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Cellebrite DI Company Profile

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.