indie Semiconductor (NASDAQ:INDI) Shares Gap Down - Time to Sell?

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $3.46, but opened at $3.30. indie Semiconductor shares last traded at $3.26, with a volume of 1,112,685 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Benchmark reiterated a "buy" rating and set a $6.00 price target on shares of indie Semiconductor in a research report on Wednesday. KeyCorp lowered their price target on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. B. Riley reiterated a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. Finally, Craig Hallum lowered their price target on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.75.

indie Semiconductor Stock Down 7.8%

The firm's 50 day moving average is $2.37 and its two-hundred day moving average is $3.19. The firm has a market cap of $677.92 million, a P/E ratio of -4.20 and a beta of 2.12. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The business had revenue of $54.08 million for the quarter, compared to analyst estimates of $54.94 million. During the same quarter last year, the firm earned ($0.10) EPS. indie Semiconductor's quarterly revenue was up 3.2% compared to the same quarter last year. As a group, research analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 13,725 shares of indie Semiconductor stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $2.59, for a total value of $35,547.75. Following the transaction, the chief operating officer now owns 101,662 shares of the company's stock, valued at approximately $263,304.58. The trade was a 11.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of INDI. Kera Capital Partners Inc. bought a new position in indie Semiconductor in the first quarter valued at approximately $31,000. National Bank of Canada FI lifted its position in shares of indie Semiconductor by 32.7% in the first quarter. National Bank of Canada FI now owns 17,852 shares of the company's stock worth $36,000 after purchasing an additional 4,400 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of indie Semiconductor by 36.5% in the first quarter. Hsbc Holdings PLC now owns 19,486 shares of the company's stock worth $39,000 after purchasing an additional 5,213 shares in the last quarter. SlateStone Wealth LLC lifted its position in shares of indie Semiconductor by 27.1% in the first quarter. SlateStone Wealth LLC now owns 22,100 shares of the company's stock worth $45,000 after purchasing an additional 4,706 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of indie Semiconductor in the first quarter worth $53,000. Institutional investors own 67.73% of the company's stock.

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.