indie Semiconductor, Inc. (NASDAQ:INDI) Short Interest Update

indie Semiconductor, Inc. (NASDAQ:INDI) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 28,850,000 shares, an increase of 8.6% from the August 31st total of 26,560,000 shares. Currently, 16.5% of the company’s stock are sold short. Based on an average daily trading volume, of 2,690,000 shares, the days-to-cover ratio is currently 10.7 days.

Analysts Set New Price Targets

Several research firms have weighed in on INDI. Roth Mkm cut their target price on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Benchmark restated a “buy” rating and issued a $12.00 target price on shares of indie Semiconductor in a report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $10.50.

indie Semiconductor Price Performance

Shares of NASDAQ:INDI opened at $3.99 on Tuesday. The company has a quick ratio of 2.20, a current ratio of 2.66 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $4.35 and a 200 day moving average price of $5.68. The company has a market cap of $745.18 million, a price-to-earnings ratio of -8.14 and a beta of 1.20. indie Semiconductor has a twelve month low of $3.16 and a twelve month high of $8.69.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The company had revenue of $52.40 million during the quarter, compared to analysts’ expectations of $53.61 million. During the same period in the prior year, the business earned ($0.11) earnings per share. indie Semiconductor’s revenue for the quarter was up .6% compared to the same quarter last year. Research analysts predict that indie Semiconductor will post -0.7 earnings per share for the current year.

Insider Activity

In related news, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares in the company, valued at $3,742,645.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 80,260 shares of company stock worth $311,514 in the last three months. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of indie Semiconductor by 1,743.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after acquiring an additional 3,906 shares during the period. Newbridge Financial Services Group Inc. lifted its position in indie Semiconductor by 40.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $56,000 after purchasing an additional 2,000 shares during the period. Financial Management Professionals Inc. acquired a new stake in indie Semiconductor during the first quarter worth $53,000. Quent Capital LLC increased its holdings in indie Semiconductor by 66.7% in the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $71,000 after buying an additional 4,000 shares during the period. Finally, Xponance Inc. acquired a new position in shares of indie Semiconductor in the 2nd quarter valued at $63,000. Institutional investors own 67.73% of the company’s stock.

About indie Semiconductor

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.