Valens Semiconductor, Ltd. (NYSE:VLN) Short Interest Up 142.7% in July

Key Points

• Valens Semiconductor experienced a significant increase in short interest of 142.7% in July, totaling 423,300 shares by July 31st.
• The company's stock is currently trading at $2.12 with a market capitalization of $225.44 million and a price-to-earnings ratio of -6.63.
• Needham & Company has reaffirmed a "buy" rating for Valens Semiconductor, setting a target price of $4.00 per share.

Valens Semiconductor, Ltd. (NYSE:VLN - Get Free Report) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 423,300 shares, agrowthof142.7% from the July 15th total of 174,400 shares. Based on an average trading volume of 611,600 shares, the short-interest ratio is presently 0.7 days. Currently,0.5% of the company's shares are sold short. Currently,0.5% of the company's shares are sold short. Based on an average trading volume of 611,600 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of Valens Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its holdings in shares of Valens Semiconductor by 0.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,421,482 shares of the company's stock worth $3,696,000 after buying an additional 4,100 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Valens Semiconductor by 41.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,001,930 shares of the company's stock worth $2,605,000 after buying an additional 293,230 shares during the period. ARK Investment Management LLC boosted its holdings in shares of Valens Semiconductor by 23.4% during the 2nd quarter. ARK Investment Management LLC now owns 700,342 shares of the company's stock worth $1,842,000 after buying an additional 132,589 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Valens Semiconductor by 21.0% during the 1st quarter. Acadian Asset Management LLC now owns 671,323 shares of the company's stock worth $1,360,000 after buying an additional 116,407 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Valens Semiconductor by 389.8% during the 4th quarter. Millennium Management LLC now owns 614,577 shares of the company's stock worth $1,598,000 after buying an additional 489,108 shares during the period. Institutional investors own 33.90% of the company's stock.

Valens Semiconductor Stock Performance

Shares of VLN traded up $0.0050 during mid-day trading on Thursday, reaching $2.0950. The company's stock had a trading volume of 236,842 shares, compared to its average volume of 1,179,327. Valens Semiconductor has a 1-year low of $1.67 and a 1-year high of $3.50. The business has a 50-day simple moving average of $2.45 and a two-hundred day simple moving average of $2.34.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a "buy" rating and issued a $4.00 target price on shares of Valens Semiconductor in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Strong Buy" and an average target price of $4.00.

About Valens Semiconductor

Valens Semiconductor Ltd. engages in the provision of semiconductor products for the audio-video and automotive industries. The company offers HDBaseT technology, which enables the simultaneous delivery of ultra-high-definition digital video and audio, Ethernet, USB, control signals, and power through a single long-reach cable.