Cellebrite DI Ltd. (NASDAQ:CLBT) Short Interest Up 10.0% in June

Cellebrite DI Ltd. (NASDAQ:CLBT) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 2,200,000 shares, a growth of 10.0% from the May 31st total of 2,000,000 shares. Based on an average daily volume of 981,200 shares, the days-to-cover ratio is currently 2.2 days. Approximately 3.6% of the shares of the company are short sold.

Cellebrite DI Stock Performance

Shares of CLBT stock opened at $12.20 on Thursday. The stock’s fifty day moving average is $11.39 and its 200-day moving average is $10.56. The stock has a market capitalization of $2.51 billion, a PE ratio of -21.03, a PEG ratio of 1.63 and a beta of 1.50. Cellebrite DI has a 52 week low of $6.36 and a 52 week high of $12.67.

Cellebrite DI (NASDAQ:CLBT) last announced its earnings results on Thursday, May 23rd. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. Cellebrite DI had a positive return on equity of 417.94% and a negative net margin of 32.57%. The company had revenue of $89.60 million for the quarter, compared to analysts’ expectations of $85.34 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. As a group, analysts forecast that Cellebrite DI will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CLBT. Bank of America upped their price target on Cellebrite DI from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. upped their price target on Cellebrite DI from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Craig Hallum upped their price target on Cellebrite DI from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Lake Street Capital began coverage on Cellebrite DI in a research report on Friday, April 19th. They issued a “buy” rating and a $13.00 price target on the stock. Finally, William Blair upgraded Cellebrite DI from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cellebrite DI currently has a consensus rating of “Buy” and a consensus target price of $13.17.

Hedge Funds Weigh In On Cellebrite DI

Several large investors have recently made changes to their positions in CLBT. Trexquant Investment LP lifted its stake in shares of Cellebrite DI by 308.7% during the third quarter. Trexquant Investment LP now owns 65,908 shares of the company’s stock valued at $504,000 after acquiring an additional 49,782 shares during the period. Citigroup Inc. lifted its stake in shares of Cellebrite DI by 4.7% during the third quarter. Citigroup Inc. now owns 36,622 shares of the company’s stock valued at $280,000 after acquiring an additional 1,648 shares during the period. SG Americas Securities LLC acquired a new position in shares of Cellebrite DI during the fourth quarter valued at $333,000. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new position in shares of Cellebrite DI during the fourth quarter valued at $676,000. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD acquired a new position in shares of Cellebrite DI during the fourth quarter valued at $1,774,000. Institutional investors and hedge funds 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.