Short Interest in Cellebrite DI Ltd. (NASDAQ:CLBT) Rises By 48.7%

Key Points

• Cellebrite DI Ltd. (NASDAQ:CLBT) experienced a significant increase in short interest, rising by 48.7% in July to a total of 3,360,000 shares.
• The company reported $0.10 earnings per share for the last quarter, surpassing analyst estimates, with revenue increasing by 20.0% year-over-year.
• Analysts have mixed views on the stock, with one downgrade to a "hold" rating, while the consensus rating remains a "Moderate Buy" with an average price target of $22.43.

Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 3,360,000 shares, anincreaseof48.7% from the June 30th total of 2,260,000 shares. Based on an average daily volume of 1,430,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately3.1% of the shares of the stock are short sold. Approximately3.1% of the shares of the stock are short sold. Based on an average daily volume of 1,430,000 shares, the days-to-cover ratio is presently 2.3 days.

Cellebrite DI Stock Performance

CLBT traded down $0.25 during midday trading on Friday, reaching $13.57. 988,354 shares of the company were exchanged, compared to its average volume of 1,563,404. The stock has a market capitalization of $3.25 billion, a P/E ratio of -14.14, a PEG ratio of 2.80 and a beta of 1.27. Cellebrite DI has a one year low of $13.19 and a one year high of $26.30. The stock's 50-day simple moving average is $15.19 and its 200 day simple moving average is $18.14.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $107.55 million for the quarter, compared to analyst estimates of $109.36 million. Cellebrite DI had a negative net margin of 46.34% and a positive return on equity of 35.36%. Cellebrite DI's quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 EPS. On average, research analysts anticipate that Cellebrite DI will post 0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CLBT shares. JPMorgan Chase & Co. lowered their target price on Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. Needham & Company LLC reissued a "buy" rating and issued a $24.00 target price on shares of Cellebrite DI in a research note on Friday, June 6th. Finally, Wall Street Zen lowered Cellebrite DI from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.43.

Institutional Trading of Cellebrite DI

Large investors have recently made changes to their positions in the company. FMR LLC grew its stake in Cellebrite DI by 89.1% in the fourth quarter. FMR LLC now owns 10,621,344 shares of the company's stock valued at $233,988,000 after acquiring an additional 5,004,587 shares during the period. Axon Enterprise Inc. acquired a new position in shares of Cellebrite DI in the 4th quarter valued at approximately $198,270,000. Voss Capital LP increased its stake in Cellebrite DI by 18.6% during the 1st quarter. Voss Capital LP now owns 3,843,602 shares of the company's stock worth $74,681,000 after purchasing an additional 603,602 shares in the last quarter. Invesco Ltd. increased its stake in Cellebrite DI by 122.1% during the 1st quarter. Invesco Ltd. now owns 3,296,079 shares of the company's stock worth $64,043,000 after purchasing an additional 1,811,757 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in Cellebrite DI during the 1st quarter worth approximately $60,939,000. Institutional investors own 45.88% of the company's stock.

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.