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

Cellebrite DI Ltd. (NASDAQ:CLBT) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 2,600,000 shares, an increase of 26.2% from the July 15th total of 2,060,000 shares. Based on an average daily volume of 1,300,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 4.2% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CLBT. JPMorgan Chase & Co. lifted their price objective on Cellebrite DI from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday. Lake Street Capital began coverage on Cellebrite DI in a research report on Friday, April 19th. They set a “buy” rating and a $13.00 price target for the company. Finally, Needham & Company LLC upped their price objective on Cellebrite DI from $13.50 to $14.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $14.20.

Institutional Investors Weigh In On Cellebrite DI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its stake in Cellebrite DI by 75.0% during the 4th quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock worth $30,000 after buying an additional 1,500 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of 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 purchasing an additional 1,017 shares in the last quarter. Quarry LP acquired a new position in Cellebrite DI in the 4th quarter valued at $36,000. Public Employees Retirement Association of Colorado purchased a new position in Cellebrite DI in the 2nd quarter valued at $71,000. Finally, nVerses Capital LLC acquired a new stake in Cellebrite DI during the 2nd quarter worth $103,000. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Cellebrite DI Stock Up 7.3 %

Shares of NASDAQ:CLBT traded up $1.02 during trading on Thursday, reaching $14.96. 6,438,315 shares of the company’s stock traded hands, compared to its average volume of 1,104,813. Cellebrite DI has a fifty-two week low of $6.36 and a fifty-two week high of $16.42. The company has a 50-day simple moving average of $12.45 and a 200-day simple moving average of $11.48. The firm has a market cap of $3.08 billion, a PE ratio of -25.86, a P/E/G ratio of 1.84 and a beta of 1.50.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings data on Thursday, May 23rd. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $89.60 million for the quarter, compared to analyst estimates of $85.34 million. Cellebrite DI had a positive return on equity of 417.94% and a negative net margin of 32.57%. Cellebrite DI’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. On average, equities research analysts forecast that Cellebrite DI will post 0.34 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.