Cellebrite DI Ltd. (NASDAQ:CLBT) Sees Significant Increase in Short Interest

Cellebrite DI Ltd. (NASDAQ:CLBT) saw a large growth in short interest during 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. Currently, 3.6% of the company’s stock are sold short. Based on an average daily volume of 981,200 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Trading of Cellebrite DI

Several hedge funds have recently bought and sold shares of the company. IGP Investments G.P.L.P LP acquired a new stake in shares of Cellebrite DI in the fourth quarter valued at approximately $182,619,000. Clal Insurance Enterprises Holdings Ltd increased its position in Cellebrite DI by 7.8% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 7,086,158 shares of the company’s stock valued at $56,446,000 after acquiring an additional 514,858 shares during the period. Crosslink Capital Inc. raised its stake in Cellebrite DI by 1.4% during the 4th quarter. Crosslink Capital Inc. now owns 3,240,480 shares of the company’s stock valued at $28,063,000 after acquiring an additional 44,520 shares in the last quarter. Acadian Asset Management LLC boosted its position in Cellebrite DI by 26.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock worth $32,062,000 after acquiring an additional 612,787 shares during the period. Finally, Ashford Capital Management Inc. grew its stake in shares of Cellebrite DI by 23.5% in the first quarter. Ashford Capital Management Inc. now owns 1,841,240 shares of the company’s stock worth $20,401,000 after purchasing an additional 350,140 shares in the last quarter. 45.88% of the stock is currently owned by institutional investors.

Cellebrite DI Stock Up 0.7 %

Shares of NASDAQ: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 business’s fifty day moving average is $11.36 and its 200-day moving average is $10.55. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -20.90, a PEG ratio of 1.63 and a beta of 1.50. Cellebrite DI has a one year low of $6.36 and a one year high of $12.67.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings data on Thursday, May 23rd. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $89.60 million during 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 was up 25.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 EPS. On average, analysts forecast that Cellebrite DI will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

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