Navitas Semiconductor Co. (NASDAQ:NVTS) Short Interest Down 15.7% in November

Navitas Semiconductor Co. (NASDAQ:NVTS) was the recipient of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 23,480,000 shares, a drop of 15.7% from the November 15th total of 27,840,000 shares. Based on an average trading volume of 3,980,000 shares, the short-interest ratio is currently 5.9 days. Approximately 20.8% of the shares of the company are short sold.

Insider Transactions at Navitas Semiconductor

In related news, Director Richard J. Hendrix sold 40,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $4.54, for a total value of $181,600.00. Following the sale, the director now owns 316,709 shares in the company, valued at approximately $1,437,858.86. This trade represents a 11.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin Edwards Inc. bought a new position in shares of Navitas Semiconductor during the 3rd quarter valued at $36,000. Bleakley Financial Group LLC bought a new position in shares of Navitas Semiconductor during the 3rd quarter valued at $41,000. GSA Capital Partners LLP bought a new position in shares of Navitas Semiconductor during the 3rd quarter valued at $44,000. DRW Securities LLC bought a new position in shares of Navitas Semiconductor during the 2nd quarter valued at $46,000. Finally, Wedbush Securities Inc. bought a new position in shares of Navitas Semiconductor during the 2nd quarter valued at $49,000. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Stock Down 4.4 %

Navitas Semiconductor stock opened at $3.44 on Monday. The company has a market capitalization of $642.58 million, a P/E ratio of -8.19 and a beta of 2.37. The stock’s 50 day moving average is $2.63 and its 200 day moving average is $3.17. Navitas Semiconductor has a twelve month low of $1.75 and a twelve month high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $21.93 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) EPS. As a group, equities analysts expect that Navitas Semiconductor will post -0.51 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NVTS shares. Deutsche Bank Aktiengesellschaft lowered their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Rosenblatt Securities reissued a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Robert W. Baird reduced their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Craig Hallum reduced their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Navitas Semiconductor has an average rating of “Moderate Buy” and a consensus price target of $4.75.

About Navitas Semiconductor

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.