Short Interest in Cellebrite DI Ltd. (NASDAQ:CLBT) Declines By 5.3%

Cellebrite DI Ltd. (NASDAQ:CLBT) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 2,480,000 shares, a decrease of 5.3% from the March 15th total of 2,620,000 shares. Approximately 4.5% of the shares of the company are sold short. Based on an average daily volume of 998,300 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Ratings Changes

Several equities analysts have recently commented on CLBT shares. Craig Hallum upped their target price on Cellebrite DI from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Bank of America upped their target price on Cellebrite DI from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Needham & Company LLC upped their target price on Cellebrite DI from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, William Blair raised Cellebrite DI from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $12.30.

Institutional Investors Weigh In On Cellebrite DI

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its stake in shares of Cellebrite DI by 75.0% in the 4th quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock valued at $30,000 after acquiring an additional 1,500 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Cellebrite DI by 4.7% in the 3rd quarter. Citigroup Inc. now owns 36,622 shares of the company’s stock valued at $280,000 after acquiring an additional 1,648 shares during the last quarter. Barclays PLC lifted its stake in shares of Cellebrite DI by 14.5% in the 3rd quarter. Barclays PLC now owns 15,608 shares of the company’s stock valued at $119,000 after acquiring an additional 1,982 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Cellebrite DI by 4.3% in the 3rd quarter. LPL Financial LLC now owns 48,485 shares of the company’s stock valued at $371,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Cellebrite DI by 4.8% in the 4th quarter. Legal & General Group Plc now owns 45,528 shares of the company’s stock valued at $394,000 after acquiring an additional 2,100 shares during the last quarter. 45.88% of the stock is currently owned by institutional investors.

Cellebrite DI Trading Up 1.2 %

Shares of CLBT stock opened at $10.50 on Wednesday. The stock has a 50 day simple moving average of $11.17 and a 200 day simple moving average of $9.15. Cellebrite DI has a 1 year low of $5.22 and a 1 year high of $12.50.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. The business had revenue of $93.01 million during the quarter, compared to analysts’ expectations of $85.43 million. Cellebrite DI had a positive return on equity of 173.14% and a negative net margin of 24.94%. On average, equities research analysts expect that Cellebrite DI will post 0.32 earnings per share for the current year.

Cellebrite DI Company Profile

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.