Cellebrite DI (NASDAQ:CLBT) Stock Price Up 5.3%

Cellebrite DI Ltd. (NASDAQ:CLBT) rose 5.3% during mid-day trading on Thursday . The company traded as high as $12.38 and last traded at $12.22. Approximately 345,998 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 859,431 shares. The stock had previously closed at $11.61.

Wall Street Analyst Weigh In

CLBT has been the topic of a number of research analyst reports. Craig Hallum boosted their target price on Cellebrite DI from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Needham & Company LLC boosted their target price on Cellebrite DI from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Thursday, March 28th. Bank of America boosted their price target on shares of Cellebrite DI from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. William Blair upgraded shares of Cellebrite DI from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 13th. Finally, Lake Street Capital began coverage on shares of Cellebrite DI in a research note on Friday, April 19th. They issued a “buy” rating and a $13.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $12.42.

Cellebrite DI Price Performance

The business’s 50 day moving average is $11.12 and its 200 day moving average is $9.85. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -28.60, a P/E/G ratio of 2.07 and a beta of 1.51.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLBT. Parallel Advisors LLC grew its position in shares of Cellebrite DI by 75.0% in the fourth quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock valued at $30,000 after purchasing an additional 1,500 shares during the last quarter. Citigroup Inc. boosted its position in Cellebrite DI by 4.7% during the third quarter. Citigroup Inc. now owns 36,622 shares of the company’s stock worth $280,000 after acquiring an additional 1,648 shares during the last quarter. Barclays PLC boosted its position in Cellebrite DI by 14.5% during the third quarter. Barclays PLC now owns 15,608 shares of the company’s stock worth $119,000 after acquiring an additional 1,982 shares during the last quarter. Quarry LP acquired a new stake in Cellebrite DI during the fourth quarter worth approximately $36,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Cellebrite DI by 44.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,091 shares of the company’s stock worth $115,000 after acquiring an additional 4,672 shares during the last quarter. 45.88% of the stock is currently owned by institutional investors and hedge funds.

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.