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

Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) 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 presently 0.6 days. Currently, 1.4% of the company's stock are sold short.

Analyst Ratings Changes

Several research firms have recently commented on CLBT. JPMorgan Chase & Co. increased their target price on Cellebrite DI from $24.00 to $28.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Lake Street Capital raised their price objective on shares of Cellebrite DI from $17.00 to $26.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $28.00 target price on shares of Cellebrite DI in a research report on Monday, March 10th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $23.43.

Cellebrite DI Stock Up 1.0 %

CLBT stock traded up $0.19 during trading on Friday, hitting $19.23. 943,485 shares of the company's stock traded hands, compared to its average volume of 1,124,062. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of -13.83, a price-to-earnings-growth ratio of 4.27 and a beta of 1.52. Cellebrite DI has a 52 week low of $10.25 and a 52 week high of $26.30. The stock has a fifty day moving average price of $21.12 and a two-hundred day moving average price of $19.78.

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Cellebrite DI (NASDAQ:CLBT - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.03). Cellebrite DI had a negative net margin of 70.54% and a positive return on equity of 58.70%. As a group, equities research analysts expect that Cellebrite DI will post 0.3 EPS for the current fiscal year.

Institutional Trading of Cellebrite DI

Several hedge funds have recently made changes to their positions in CLBT. Quarry LP acquired a new stake in Cellebrite DI in the third quarter worth $27,000. Advisors Asset Management Inc. grew its position in shares of 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 acquiring an additional 1,742 shares during the last quarter. Gen Wealth Partners Inc acquired a new stake in shares of Cellebrite DI in the 4th quarter worth about $85,000. NewEdge Advisors LLC lifted its position in Cellebrite DI by 600.7% in the 4th 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 last quarter. Finally, R Squared Ltd acquired a new position in Cellebrite DI during the 4th quarter valued at about $100,000. 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.