indie Semiconductor (NASDAQ:INDI) Stock Price Down 5.1% - Should You Sell?

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report)'s stock price fell 5.1% during mid-day trading on Tuesday . The stock traded as low as $3.21 and last traded at $3.24. 865,251 shares were traded during trading, a decline of 77% from the average session volume of 3,747,790 shares. The stock had previously closed at $3.41.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on INDI shares. Benchmark reissued a "buy" rating and issued a $6.00 price target on shares of indie Semiconductor in a report on Wednesday, June 11th. KeyCorp lowered their price objective on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. B. Riley reissued a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. Finally, Craig Hallum lowered their target price on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, indie Semiconductor currently has an average rating of "Moderate Buy" and a consensus price target of $5.75.

indie Semiconductor Trading Down 6.3%

The stock has a market cap of $678.98 million, a P/E ratio of -4.20 and a beta of 2.12. The firm's 50 day moving average price is $2.41 and its 200-day moving average price is $3.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) 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 company had revenue of $54.08 million for the quarter, compared to analysts' expectations of $54.94 million. During the same quarter last year, the company posted ($0.10) earnings per share. The firm's quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts forecast that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Insider Buying and Selling at indie Semiconductor

In other news, COO Michael Wittmann sold 13,725 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 101,662 shares of the company's stock, valued at $263,304.58. This represents a 11.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.60% 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 the stock. National Bank of Canada FI increased its stake in indie Semiconductor by 42.7% in the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock worth $54,000 after acquiring an additional 4,023 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new position in indie Semiconductor during the 4th quarter valued at $55,000. Regal Investment Advisors LLC grew its holdings in shares of indie Semiconductor by 39.2% in the fourth quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock worth $57,000 after purchasing an additional 3,988 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of indie Semiconductor by 74.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company's stock valued at $60,000 after acquiring an additional 6,363 shares in the last quarter. Finally, Kera Capital Partners Inc. purchased a new stake in shares of indie Semiconductor in the 1st quarter worth $31,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.

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