Mobix Labs (NASDAQ:MOBX) Shares Down 3.7%

Mobix Labs, Inc. (NASDAQ:MOBX) shares dropped 3.7% during trading on Wednesday . The stock traded as low as $0.99 and last traded at $1.04. Approximately 187,809 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 238,677 shares. The stock had previously closed at $1.08.

Mobix Labs Stock Performance

The company has a 50 day simple moving average of $1.27 and a two-hundred day simple moving average of $1.91.

Mobix Labs (NASDAQ:MOBX) last released its earnings results on Wednesday, August 14th. The company reported ($0.25) earnings per share for the quarter. The firm had revenue of $2.06 million during the quarter.

Institutional Investors Weigh In On Mobix Labs

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Connective Capital Management LLC bought a new position in Mobix Labs during the 1st quarter valued at about $45,000. Wedbush Securities Inc. purchased a new position in shares of Mobix Labs during the second quarter valued at approximately $62,000. Finally, Vanguard Capital Wealth Advisors bought a new position in shares of Mobix Labs during the first quarter valued at approximately $255,000. Hedge funds and other institutional investors own 8.56% of the company’s stock.

About Mobix Labs

Mobix Labs, Inc, a fabless semiconductor company, provides wireless and connectivity solutions for next generation communication systems, including C-Band and mmWave 5G and high bandwidth cable applications. Its products include True5G chipset solutions; true xero active optical cables and related products designed to deliver fiber optic connectivity for a range of applications, including 5G infrastructure, autonomous vehicles, Pro A/V, AR/VR, remote medical systems, and others; electromagnetic interference filters deployed in aerospace, military, defense, medical, and healthcare products.