Short Interest in Cellebrite DI Ltd. (NASDAQ:CLBT) Expands By 10.0%

Cellebrite DI Ltd. (NASDAQ:CLBT) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 2,200,000 shares, a growth of 10.0% from the May 31st total of 2,000,000 shares. Based on an average daily trading volume, of 981,200 shares, the days-to-cover ratio is presently 2.2 days. Currently, 3.6% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CLBT. 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 purchasing an additional 1,500 shares during the last quarter. Quarry LP purchased a new position in Cellebrite DI in the fourth quarter worth about $36,000. Central Asset Investments & Management Holdings HK Ltd bought a new stake in Cellebrite DI during the fourth quarter worth approximately $113,000. Hennessy Advisors Inc. purchased a new stake in Cellebrite DI during the fourth quarter valued at approximately $131,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Cellebrite DI by 92.5% in the 1st quarter. Russell Investments Group Ltd. now owns 16,649 shares of the company’s stock worth $188,000 after purchasing an additional 8,001 shares during the period. 45.88% of the stock is owned by hedge funds and other institutional investors.

Cellebrite DI Trading Up 0.7 %

CLBT traded up $0.08 during trading on Wednesday, hitting $12.20. 442,817 shares of the company traded hands, compared to its average volume of 981,851. The company has a market cap of $2.51 billion, a PE ratio of -20.90, a P/E/G ratio of 1.63 and a beta of 1.50. Cellebrite DI has a 1 year low of $6.36 and a 1 year high of $12.67. The stock’s 50-day simple moving average is $11.36 and its two-hundred day simple moving average is $10.55.

Cellebrite DI (NASDAQ:CLBT) last posted its earnings results on Thursday, May 23rd. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $89.60 million for the quarter, compared to the consensus estimate of $85.34 million. Cellebrite DI had a positive return on equity of 417.94% and a negative net margin of 32.57%. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. Equities analysts expect that Cellebrite DI will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

CLBT has been the subject of a number of analyst reports. William Blair upgraded Cellebrite DI from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 13th. Bank of America lifted their price target on shares of Cellebrite DI from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, April 1st. Craig Hallum increased their price objective on shares of Cellebrite DI from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Needham & Company LLC lifted their target price on shares of Cellebrite DI from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Finally, Lake Street Capital initiated coverage on Cellebrite DI in a research note on Friday, April 19th. They issued a “buy” rating and a $13.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $13.17.

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.