Cellebrite DI Ltd. (NASDAQ:CLBT) Short Interest Up 29.6% in August

Cellebrite DI Ltd. (NASDAQ:CLBT) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,900,000 shares, an increase of 29.6% from the August 15th total of 3,010,000 shares. Currently, 5.9% of the shares of the stock are sold short. Based on an average trading volume of 1,550,000 shares, the short-interest ratio is currently 2.5 days.

Cellebrite DI Stock Up 0.1 %

Shares of CLBT traded up $0.01 during mid-day trading on Monday, hitting $17.52. The company had a trading volume of 1,002,900 shares, compared to its average volume of 1,136,852. The stock has a market cap of $3.61 billion, a PE ratio of -30.21, a P/E/G ratio of 2.33 and a beta of 1.52. Cellebrite DI has a 1-year low of $6.36 and a 1-year high of $17.61. The business’s 50-day simple moving average is $14.70 and its 200-day simple moving average is $12.53.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings data on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 5,902.06%. The company had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $91.94 million. During the same period in the previous year, the company earned $0.05 EPS. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts expect that Cellebrite DI will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CLBT. Needham & Company LLC raised their price objective on shares of Cellebrite DI from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Bank of America raised their price target on Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Craig Hallum boosted their price target on Cellebrite DI from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Cellebrite DI from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Lake Street Capital lifted their price objective on Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cellebrite DI currently has an average rating of “Buy” and an average target price of $17.33.

Institutional Trading of Cellebrite DI

Several large investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Cellebrite DI by 59.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock worth $33,000 after purchasing an additional 1,017 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Cellebrite DI by 75.0% during the 4th quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock valued at $30,000 after buying an additional 1,500 shares during the period. Quarry LP acquired a new position in Cellebrite DI during the 4th quarter worth approximately $36,000. California State Teachers Retirement System boosted its holdings in Cellebrite DI by 9.1% in the 1st quarter. California State Teachers Retirement System now owns 56,953 shares of the company’s stock worth $631,000 after acquiring an additional 4,734 shares during the period. Finally, Lazard Asset Management LLC grew its position in Cellebrite DI by 28.7% in the first quarter. Lazard Asset Management LLC now owns 21,697 shares of the company’s stock valued at $240,000 after acquiring an additional 4,842 shares in the last quarter. 45.88% of the stock is currently owned by institutional investors and hedge funds.

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.