Short Interest in indie Semiconductor, Inc. (NASDAQ:INDI) Increases By 5.1%

indie Semiconductor, Inc. (NASDAQ:INDI) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 45,200,000 shares, an increase of 5.1% from the December 15th total of 43,010,000 shares. Based on an average daily volume of 4,900,000 shares, the days-to-cover ratio is presently 9.2 days. Approximately 25.2% of the shares of the company are short sold.

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $4.28 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. indie Semiconductor has a fifty-two week low of $3.16 and a fifty-two week high of $7.82. The firm has a market cap of $864.22 million, a PE ratio of -6.39 and a beta of 1.41. The business has a 50 day moving average price of $4.42 and a 200-day moving average price of $4.43.

Insider Activity at indie Semiconductor

In other news, COO Michael Wittmann sold 18,375 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total value of $75,337.50. Following the transaction, the chief operating officer now owns 28,860 shares of the company’s stock, valued at $118,326. This represents a 38.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Donald Mcclymont sold 200,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $86,433.21. This represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 276,593 shares of company stock worth $1,272,291. 8.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of indie Semiconductor during the third quarter valued at about $58,000. Xponance Inc. bought a new position in indie Semiconductor during the 2nd quarter valued at approximately $63,000. FNY Investment Advisers LLC purchased a new stake in indie Semiconductor in the 4th quarter worth approximately $74,000. Creative Planning bought a new stake in shares of indie Semiconductor in the 3rd quarter worth approximately $75,000. Finally, Algert Global LLC purchased a new position in shares of indie Semiconductor during the second quarter valued at approximately $97,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Benchmark cut their target price on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Roth Mkm cut their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $8.92.

About indie Semiconductor

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.