Cellebrite DI Ltd. (NASDAQ:CLBT) Sees Large Increase in Short Interest

Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 1,810,000 shares, an increase of 83.2% from the April 30th total of 988,200 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average daily trading volume, of 1,360,000 shares, the days-to-cover ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CLBT shares. JPMorgan Chase & Co. reduced their price objective on shares of Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Needham & Company LLC dropped their price objective on Cellebrite DI from $28.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Finally, Lake Street Capital boosted their target price on shares of Cellebrite DI from $17.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $22.43.

Institutional Trading of Cellebrite DI

A number of hedge funds and other institutional investors have recently modified their holdings of CLBT. Assetmark Inc. acquired a new position in Cellebrite DI in the first quarter worth approximately $33,000. Catalyst Capital Advisors LLC bought a new stake in shares of Cellebrite DI during the 1st quarter worth $51,000. Virtus Advisers LLC acquired a new position in shares of Cellebrite DI in the 1st quarter worth $63,000. Gen Wealth Partners Inc acquired a new stake in shares of Cellebrite DI during the fourth quarter worth $85,000. Finally, NewEdge Advisors LLC raised its position in shares of Cellebrite DI by 600.7% during the fourth quarter. NewEdge Advisors LLC now owns 3,910 shares of the company's stock worth $86,000 after purchasing an additional 3,352 shares during the period. Institutional investors own 45.88% of the company's stock.

Cellebrite DI Stock Performance

Shares of CLBT stock traded up $0.26 during mid-day trading on Wednesday, reaching $16.92. 398,030 shares of the company were exchanged, compared to its average volume of 1,463,146. The company has a market capitalization of $4.05 billion, a P/E ratio of -12.17, a P/E/G ratio of 4.27 and a beta of 1.44. The business's 50 day simple moving average is $18.52 and its 200 day simple moving average is $20.12. Cellebrite DI has a fifty-two week low of $10.25 and a fifty-two week high of $26.30.

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 firm 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 70.54% and a positive return on equity of 58.70%. Cellebrite DI's quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. On average, analysts forecast that Cellebrite DI will post 0.3 EPS for the current year.

About Cellebrite DI

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.