indie Semiconductor (NASDAQ:INDI) Shares Gap Down - Should You Sell?

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $4.36, but opened at $4.23. indie Semiconductor shares last traded at $4.23, with a volume of 653,122 shares traded.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Roth Mkm dropped their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a "buy" rating for the company in a research report on Friday, November 8th. UBS Group began coverage on shares of indie Semiconductor in a research report on Friday. They set a "neutral" rating and a $4.50 price objective for the company. Finally, Benchmark lowered their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $8.29.

indie Semiconductor Stock Down 2.1 %

The business's 50 day moving average is $4.40 and its 200 day moving average is $4.40. The company has a market capitalization of $862.20 million, a price-to-earnings ratio of -6.37 and a beta of 1.41. 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 (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The business had revenue of $53.97 million for the quarter, compared to analyst estimates of $53.65 million. indie Semiconductor had a negative net margin of 49.88% and a negative return on equity of 24.04%. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. Sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.74 earnings per share for the current year.

Insider Activity

In related news, CEO Donald Mcclymont sold 200,000 shares of the business's 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 sale, the chief executive officer now owns 18,351 shares of the company's stock, valued at approximately $86,433.21. The trade was a 91.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Wittmann sold 18,375 shares of the business's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total transaction of $75,337.50. Following the completion of the sale, the chief operating officer now directly owns 28,860 shares of the company's stock, valued at approximately $118,326. The trade was a 38.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,593 shares of company stock valued at $1,272,291 in the last three months. 8.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On indie Semiconductor

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

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.