Mobix Labs (NASDAQ:MOBX) Stock Price Down 12.6% – Should You Sell?

Shares of Mobix Labs, Inc. (NASDAQ:MOBX) traded down 12.6% on Thursday . The stock traded as low as $0.82 and last traded at $0.82. 199,914 shares changed hands during trading, a decline of 60% from the average session volume of 504,117 shares. The stock had previously closed at $0.94.

Mobix Labs Stock Down 12.6 %

The company has a current ratio of 0.13, a quick ratio of 0.09 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $1.10 and a 200 day simple moving average of $1.10. The firm has a market capitalization of $30.34 million, a PE ratio of -0.62 and a beta of -0.31.

Mobix Labs (NASDAQ:MOBX) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.52) earnings per share for the quarter. The firm had revenue of $3.17 million for the quarter. Mobix Labs had a negative net margin of 437.57% and a negative return on equity of 866.93%.

Insider Activity

In other news, Director James J. Peterson sold 146,732 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.04, for a total transaction of $152,601.28. Following the sale, the director now owns 2,115,574 shares in the company, valued at approximately $2,200,196.96. The trade was a 6.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 188,965 shares of company stock valued at $198,618. Company insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Mobix Labs

Several hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC bought a new stake in shares of Mobix Labs in the 4th quarter worth approximately $104,000. Jane Street Group LLC purchased a new stake in Mobix Labs during the 4th quarter valued at $93,000. Geode Capital Management LLC increased its holdings in shares of Mobix Labs by 29.8% in the 3rd quarter. Geode Capital Management LLC now owns 201,578 shares of the company’s stock worth $214,000 after purchasing an additional 46,237 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of Mobix Labs by 73.1% during the fourth quarter. Ieq Capital LLC now owns 34,620 shares of the company’s stock valued at $59,000 after purchasing an additional 14,620 shares in the last quarter. Finally, Coppell Advisory Solutions LLC boosted its position in shares of Mobix Labs by 66.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 25,000 shares of the company’s stock valued at $42,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 8.56% of the company’s stock.

About Mobix Labs

Mobix Labs, Inc, a fabless semiconductor company, provides wireless and connectivity solutions for next generation communication systems, including C-Band and mmWave 5G and high bandwidth cable applications. Its products include True5G chipset solutions; true xero active optical cables and related products designed to deliver fiber optic connectivity for a range of applications, including 5G infrastructure, autonomous vehicles, Pro A/V, AR/VR, remote medical systems, and others; electromagnetic interference filters deployed in aerospace, military, defense, medical, and healthcare products.