indie Semiconductor, Inc. (NASDAQ:INDI) Short Interest Up 53.3% in December

indie Semiconductor, Inc. (NASDAQ:INDI) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 43,010,000 shares, an increase of 53.3% from the November 30th total of 28,050,000 shares. Based on an average trading volume of 4,630,000 shares, the short-interest ratio is currently 9.3 days. Currently, 24.0% of the shares of the company are sold short.

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI opened at $4.34 on Monday. The business’s 50 day moving average price is $4.24 and its 200-day moving average price is $4.69. indie Semiconductor has a 1 year low of $3.16 and a 1 year high of $8.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The firm has a market capitalization of $876.32 million, a PE ratio of -6.48 and a beta of 1.37.

Insider Activity at indie Semiconductor

In other news, COO Michael Wittmann sold 18,375 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total value of $75,337.50. Following the sale, the chief operating officer now owns 28,860 shares in the company, valued at $118,326. This represents a 38.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Donald Mcclymont sold 200,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total transaction of $942,000.00. Following the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at approximately $86,433.21. This trade represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,456 shares of company stock valued at $1,249,783 in the last ninety days. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in indie Semiconductor by 24.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 643,273 shares of the company’s stock valued at $3,969,000 after acquiring an additional 125,158 shares in the last quarter. Rhumbline Advisers boosted its position in shares of indie Semiconductor by 25.2% during the 2nd quarter. Rhumbline Advisers now owns 242,841 shares of the company’s stock valued at $1,498,000 after acquiring an additional 48,876 shares during the last quarter. Wealth Effects LLC raised its stake in indie Semiconductor by 2.8% during the second quarter. Wealth Effects LLC now owns 170,700 shares of the company’s stock worth $1,053,000 after purchasing an additional 4,600 shares during the period. Arizona State Retirement System increased its holdings in shares of indie Semiconductor by 16.1% during the 2nd quarter. Arizona State Retirement System now owns 43,756 shares of the company’s stock worth $270,000 after buying an additional 6,075 shares during the last quarter. Finally, General American Investors Co. Inc. lifted its holdings in indie Semiconductor by 32.3% in the second quarter. General American Investors Co. Inc. now owns 919,465 shares of the company’s stock valued at $5,673,000 after acquiring an additional 224,570 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

INDI has been the topic of a number of recent research reports. Roth Mkm lowered their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Benchmark decreased their price target on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, indie Semiconductor presently has a consensus rating of “Buy” and a consensus target price of $8.92.

indie Semiconductor Company Profile

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.