indie Semiconductor, Inc. (NASDAQ:INDI) Short Interest Up 5.1% in January

indie Semiconductor, Inc. (NASDAQ:INDI) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 45,200,000 shares, an increase of 5.1% from the December 31st total of 43,010,000 shares. Based on an average daily trading volume, of 4,900,000 shares, the days-to-cover ratio is currently 9.2 days. Approximately 25.2% of the company’s shares are sold short.

Insider Buying and Selling

In other indie Semiconductor news, COO Michael Wittmann sold 18,375 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total value of $75,337.50. Following the sale, the chief operating officer now owns 28,860 shares in the company, valued at $118,326. This trade represents a 38.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction on Monday, December 16th. The stock was sold at an average price of $4.31, for a total value of $215,500.00. Following the sale, the chief executive officer now owns 18,351 shares of the company’s stock, valued at approximately $79,092.81. This trade represents a 73.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,593 shares of company stock worth $1,272,291 over the last three months. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in indie Semiconductor in the third quarter valued at about $58,000. FNY Investment Advisers LLC acquired a new stake in indie Semiconductor in the 4th quarter worth approximately $74,000. Creative Planning acquired a new stake in indie Semiconductor in the 3rd quarter worth approximately $75,000. Legato Capital Management LLC grew its position in indie Semiconductor by 47.9% during the 4th quarter. Legato Capital Management LLC now owns 20,285 shares of the company’s stock worth $82,000 after purchasing an additional 6,570 shares during the last quarter. Finally, Algert Global LLC purchased a new position in indie Semiconductor in the 2nd quarter worth $97,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on INDI shares. Roth Mkm decreased their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, November 8th. Benchmark lowered their price target on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, UBS Group initiated coverage on indie Semiconductor in a research note on Friday, January 24th. They issued a “neutral” rating and a $4.50 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.29.

indie Semiconductor Stock Down 2.4 %

NASDAQ:INDI traded down $0.10 during trading hours on Monday, reaching $4.00. The company’s stock had a trading volume of 4,002,691 shares, compared to its average volume of 3,952,699. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The company has a market capitalization of $807.68 million, a P/E ratio of -5.97 and a beta of 1.41. The stock has a 50 day moving average price of $4.35 and a two-hundred day moving average price of $4.27. indie Semiconductor has a 12 month low of $3.16 and a 12 month high of $7.82.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). indie Semiconductor had a negative return on equity of 24.04% and a negative net margin of 49.88%. The company had revenue of $53.97 million for the quarter, compared to analysts’ expectations of $53.65 million. During the same quarter last year, the company earned ($0.17) earnings per share. Equities analysts predict that indie Semiconductor will post -0.74 EPS for the current fiscal year.

indie Semiconductor Company Profile

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.