Short Interest in Cellebrite DI Ltd. (NASDAQ:CLBT) Drops By 5.3%

Cellebrite DI Ltd. (NASDAQ:CLBT) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 2,480,000 shares, a decrease of 5.3% from the March 15th total of 2,620,000 shares. Based on an average daily trading volume, of 998,300 shares, the short-interest ratio is currently 2.5 days. Approximately 4.5% of the company’s shares are short sold.

Cellebrite DI Price Performance

Shares of NASDAQ:CLBT opened at $10.38 on Tuesday. Cellebrite DI has a 1 year low of $5.22 and a 1 year high of $12.50. The company has a market cap of $2.13 billion, a PE ratio of -24.14, a P/E/G ratio of 1.86 and a beta of 1.54. The stock’s 50-day moving average is $11.15 and its 200 day moving average is $9.13.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $93.01 million for the quarter, compared to analyst estimates of $85.43 million. Cellebrite DI had a positive return on equity of 173.14% and a negative net margin of 24.94%. Analysts expect that Cellebrite DI will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CLBT. UBS Group AG bought a new position in shares of Cellebrite DI in the 1st quarter worth approximately $26,000. Virtus Fund Advisers LLC purchased a new stake in Cellebrite DI in the fourth quarter worth $28,000. Parallel Advisors LLC lifted its position in Cellebrite DI by 75.0% during the fourth quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock valued at $30,000 after buying an additional 1,500 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Cellebrite DI during the 4th quarter valued at $32,000. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Cellebrite DI by 81.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,784 shares of the company’s stock worth $34,000 after buying an additional 3,494 shares during the period. 45.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. William Blair upgraded Cellebrite DI from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 13th. Needham & Company LLC lifted their price target on Cellebrite DI from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Bank of America boosted their price objective on Cellebrite DI from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Craig Hallum raised their target price on shares of Cellebrite DI from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cellebrite DI currently has an average rating of “Buy” and a consensus price target of $12.30.

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.