indie Semiconductor, Inc. (NASDAQ:INDI) Short Interest Up 53.3% in December

indie Semiconductor, Inc. (NASDAQ:INDI) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 43,010,000 shares, an increase of 53.3% from the November 30th total of 28,050,000 shares. Currently, 24.0% of the company’s stock are short sold. Based on an average trading volume of 4,630,000 shares, the days-to-cover ratio is currently 9.3 days.

Analyst Ratings Changes

A number of research analysts have weighed in on INDI shares. Benchmark dropped their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Roth Mkm dropped their price target on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, indie Semiconductor presently has a consensus rating of “Buy” and a consensus target price of $8.92.

Insider Buying and Selling

In related news, COO Michael Wittmann sold 18,375 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total transaction of $75,337.50. Following the transaction, the chief operating officer now directly owns 28,860 shares of the company’s stock, valued at approximately $118,326. This represents a 38.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald Mcclymont sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at $86,433.21. This trade represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,456 shares of company stock valued at $1,249,783 over the last ninety days. 8.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On indie Semiconductor

A number of institutional investors have recently added to or reduced their stakes in INDI. Primecap Management Co. CA boosted its stake in shares of indie Semiconductor by 61.4% in the 3rd quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock worth $101,619,000 after buying an additional 9,689,326 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in indie Semiconductor by 290.6% during the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock worth $12,752,000 after acquiring an additional 2,377,612 shares during the period. Artemis Investment Management LLP bought a new stake in indie Semiconductor during the third quarter worth $4,478,000. Harber Asset Management LLC purchased a new position in indie Semiconductor in the third quarter worth $3,406,000. Finally, General American Investors Co. Inc. grew its stake in 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 purchasing an additional 427,928 shares during the period. 67.73% of the stock is owned by institutional investors.

indie Semiconductor Stock Performance

NASDAQ INDI opened at $4.34 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The company has a fifty day moving average price of $4.24 and a 200-day moving average price of $4.71. indie Semiconductor has a 1 year low of $3.16 and a 1 year high of $8.55. The firm has a market cap of $876.32 million, a price-to-earnings ratio of -6.48 and a beta of 1.37.

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.