Scalar Gauge Management LLC Raises Position in Cellebrite DI Ltd. (NASDAQ:CLBT)

Scalar Gauge Management LLC raised its stake in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) by 15.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 453,554 shares of the company’s stock after buying an additional 60,000 shares during the period. Cellebrite DI comprises approximately 3.2% of Scalar Gauge Management LLC’s holdings, making the stock its 9th largest position. Scalar Gauge Management LLC owned approximately 0.22% of Cellebrite DI worth $5,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC grew its position in Cellebrite DI by 75.0% during the fourth quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock valued at $30,000 after buying an additional 1,500 shares during the period. Quarry LP purchased a new position in Cellebrite DI during the fourth quarter valued at $36,000. Public Employees Retirement Association of Colorado purchased a new position in shares of Cellebrite DI during the 2nd quarter valued at about $71,000. nVerses Capital LLC purchased a new position in Cellebrite DI during the second quarter valued at approximately $103,000. Finally, TD Asset Management Inc purchased a new stake in shares of Cellebrite DI during the second quarter worth about $121,000. 45.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CLBT shares. Needham & Company LLC increased their price objective on shares of Cellebrite DI from $14.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. Bank of America raised their target price on shares of Cellebrite DI from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. Lake Street Capital increased their price objective on shares of Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lifted their price target on Cellebrite DI from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their target price on Cellebrite DI from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $18.14.

Cellebrite DI Price Performance

CLBT stock opened at $17.30 on Tuesday. The company has a market capitalization of $3.56 billion, a PE ratio of -29.83, a P/E/G ratio of 2.41 and a beta of 1.52. The firm’s 50-day moving average is $15.26 and its 200 day moving average is $12.72. Cellebrite DI Ltd. has a 12 month low of $6.36 and a 12 month high of $17.82.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $95.70 million for the quarter, compared to the consensus estimate of $91.94 million. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 5,902.06%. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS. Sell-side analysts forecast that Cellebrite DI Ltd. will post 0.31 EPS for the current fiscal year.

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.