Mobix Labs (NASDAQ:MOBX) Shares Down 6.2% – Should You Sell?

Mobix Labs, Inc. (NASDAQ:MOBX) shares dropped 6.2% during trading on Thursday . The company traded as low as $0.58 and last traded at $0.58. Approximately 214,462 shares changed hands during trading, an increase of 1% from the average daily volume of 212,149 shares. The stock had previously closed at $0.62.

Mobix Labs Stock Performance

The business has a fifty day simple moving average of $0.83 and a 200 day simple moving average of $1.36.

Institutional Trading of Mobix Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wedbush Securities Inc. bought a new stake in Mobix Labs during the 2nd quarter worth approximately $62,000. Connective Capital Management LLC bought a new stake in Mobix Labs during the 1st quarter worth approximately $45,000. Finally, Geode Capital Management LLC increased its holdings in Mobix Labs by 29.8% during the 3rd quarter. Geode Capital Management LLC now owns 201,578 shares of the company’s stock worth $214,000 after purchasing an additional 46,237 shares in the last quarter. 8.56% of the stock is owned by institutional investors.

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.