Short Interest in Cellebrite DI Ltd. (NASDAQ:CLBT) Increases By 19.6%

Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 1,280,000 shares, a growth of 19.6% from the February 28th total of 1,070,000 shares. Based on an average daily volume of 1,830,000 shares, the short-interest ratio is presently 0.7 days. Currently, 1.2% of the shares of the stock are sold short.

Cellebrite DI Stock Up 1.0 %

NASDAQ:CLBT traded up $0.17 during trading hours on Monday, hitting $17.88. 1,096,255 shares of the stock were exchanged, compared to its average volume of 1,397,151. The company's 50 day moving average is $20.41 and its two-hundred day moving average is $19.97. The company has a market capitalization of $4.28 billion, a P/E ratio of -12.86, a price-to-earnings-growth ratio of 4.27 and a beta of 1.44. Cellebrite DI has a twelve month low of $10.25 and a twelve month high of $26.30.

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 the consensus estimate of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 58.70% and a negative net margin of 70.54%. On average, equities research analysts expect that Cellebrite DI will post 0.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new position in Cellebrite DI during the third quarter worth about $27,000. Gen Wealth Partners Inc acquired a new stake in shares of Cellebrite DI in the 4th quarter valued at approximately $85,000. NewEdge Advisors LLC boosted its stake in Cellebrite DI by 600.7% during the 4th quarter. NewEdge Advisors LLC now owns 3,910 shares of the company's stock worth $86,000 after acquiring an additional 3,352 shares during the last quarter. R Squared Ltd acquired a new position in Cellebrite DI during the fourth quarter valued at approximately $100,000. Finally, Polen Capital Management LLC bought a new stake in Cellebrite DI in the fourth quarter valued at approximately $222,000. 45.88% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

CLBT has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on Cellebrite DI from $24.00 to $28.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Lake Street Capital lifted their price objective on Cellebrite DI from $17.00 to $26.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 target price on shares of Cellebrite DI in a report on Wednesday, April 2nd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $23.43.

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.