indie Semiconductor, Inc. (NASDAQ:INDI) Short Interest Down 8.4% in November

indie Semiconductor, Inc. (NASDAQ:INDI) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 26,780,000 shares, a decline of 8.4% from the October 31st total of 29,250,000 shares. Approximately 14.9% of the company’s shares are short sold. Based on an average daily trading volume, of 3,260,000 shares, the days-to-cover ratio is presently 8.2 days.

indie Semiconductor Stock Performance

Shares of INDI opened at $5.28 on Tuesday. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -7.88 and a beta of 1.36. indie Semiconductor has a 12 month low of $3.16 and a 12 month high of $8.69. The firm has a fifty day simple moving average of $4.03 and a 200 day simple moving average of $5.03. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

Insider Transactions at indie Semiconductor

In other news, CEO Donald Mcclymont sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total transaction of $942,000.00. Following the sale, the chief executive officer now owns 18,351 shares of the company’s stock, valued at $86,433.21. This trade represents a 91.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. General American Investors Co. Inc. boosted its holdings in shares of indie Semiconductor by 46.5% in the 3rd quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock valued at $5,376,000 after buying an additional 427,928 shares during the last quarter. Vanguard Group Inc. raised its position in indie Semiconductor by 3.2% during the first quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock worth $75,047,000 after acquiring an additional 332,500 shares in the last quarter. Comerica Bank grew its position in shares of indie Semiconductor by 23,949.9% in the 1st quarter. Comerica Bank now owns 314,813 shares of the company’s stock valued at $2,229,000 after acquiring an additional 313,504 shares during the period. Artemis Investment Management LLP acquired a new position in shares of indie Semiconductor during the 3rd quarter worth about $4,478,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of indie Semiconductor by 14.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,108 shares of the company’s stock valued at $306,000 after purchasing an additional 5,394 shares during the period. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on INDI shares. Benchmark dropped their target price on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Roth Mkm reduced their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $8.92.

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.