Cellebrite DI (NASDAQ:CLBT) Shares Down 7.2% Following Weak Earnings

Cellebrite DI Ltd. (NASDAQ:CLBT) fell 7.2% on Thursday following a weaker than expected earnings announcement. The company traded as low as $21.80 and last traded at $23.13. 1,094,046 shares were traded during mid-day trading, a decline of 38% from the average session volume of 1,757,342 shares. The stock had previously closed at $24.92.

The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%.

Analysts Set New Price Targets

CLBT has been the topic of a number of analyst reports. Needham & Company LLC upped their price target on Cellebrite DI from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Craig Hallum increased their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cellebrite DI from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cellebrite DI presently has a consensus rating of “Buy” and a consensus price target of $22.14.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its position in shares of Cellebrite DI by 600.7% during the fourth quarter. NewEdge Advisors LLC now owns 3,910 shares of the company’s stock worth $86,000 after purchasing an additional 3,352 shares in the last quarter. PEAK6 LLC bought a new position in Cellebrite DI in the 4th quarter worth approximately $707,000. Jump Financial LLC raised its position in Cellebrite DI by 9.0% in the 4th quarter. Jump Financial LLC now owns 141,000 shares of the company’s stock worth $3,106,000 after purchasing an additional 11,609 shares during the last quarter. Barclays PLC lifted its holdings in Cellebrite DI by 69.1% during the 4th quarter. Barclays PLC now owns 445,795 shares of the company’s stock worth $9,821,000 after buying an additional 182,138 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Cellebrite DI by 7.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,630,439 shares of the company’s stock valued at $35,919,000 after buying an additional 115,939 shares during the last quarter. Institutional investors and hedge funds own 45.88% of the company’s stock.

Cellebrite DI Trading Down 12.9 %

The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of -14.00, a PEG ratio of 3.72 and a beta of 1.47. The company has a 50 day moving average price of $22.57 and a 200 day moving average price of $19.09.

About Cellebrite DI

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.