indie Semiconductor, Inc. (NASDAQ:INDI) Sees Large Growth in Short Interest

indie Semiconductor, Inc. (NASDAQ:INDI) was the target of a large 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 volume of 4,900,000 shares, the short-interest ratio is currently 9.2 days. Currently, 25.2% of the company’s shares are short sold.

indie Semiconductor Stock Down 2.4 %

Shares of NASDAQ:INDI traded down $0.10 during trading on Monday, reaching $4.00. 4,002,691 shares of the company traded hands, compared to its average volume of 3,952,699. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. indie Semiconductor has a 1-year low of $3.16 and a 1-year high of $7.82. The firm has a fifty day simple moving average of $4.35 and a 200 day simple moving average of $4.27. The firm has a market cap of $807.68 million, a P/E ratio of -5.97 and a beta of 1.41.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The business had revenue of $53.97 million for the quarter, compared to analyst estimates of $53.65 million. indie Semiconductor had a negative return on equity of 24.04% and a negative net margin of 49.88%. During the same period in the prior year, the firm posted ($0.17) EPS. Analysts anticipate that indie Semiconductor will post -0.74 earnings per share for the current fiscal year.

Insider Transactions at indie Semiconductor

In related news, CEO Donald Mcclymont sold 200,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the sale, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at approximately $86,433.21. This represents a 91.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael Wittmann sold 18,375 shares of the business’s 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 completion of the transaction, the chief operating officer now directly owns 28,860 shares of the company’s stock, valued at approximately $118,326. This trade represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,593 shares of company stock worth $1,272,291. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of indie Semiconductor

Large investors have recently added to or reduced their stakes in the company. General American Investors Co. Inc. raised its position in shares of indie Semiconductor by 46.5% during the third quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock worth $5,376,000 after acquiring an additional 427,928 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in indie Semiconductor by 10.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,318,300 shares of the company’s stock worth $5,260,000 after purchasing an additional 120,071 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of indie Semiconductor by 7.5% during the third quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock worth $15,739,000 after acquiring an additional 276,739 shares during the period. State Street Corp raised its stake in shares of indie Semiconductor by 2.3% in the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after purchasing an additional 161,132 shares during the period. Finally, Barclays PLC lifted its stake in indie Semiconductor by 330.7% in the 3rd quarter. Barclays PLC now owns 256,799 shares of the company’s stock valued at $1,026,000 after acquiring an additional 197,179 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

About indie Semiconductor

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.