Cellebrite DI Ltd. (NASDAQ:CLBT – Get Rating) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,730,000 shares, a growth of 12.3% from the August 15th total of 1,540,000 shares. Currently, 4.8% of the shares of the company are sold short. Based on an average trading volume of 126,600 shares, the short-interest ratio is currently 13.7 days.
Institutional Investors Weigh In On Cellebrite DI
Several hedge funds and other institutional investors have recently modified their holdings of CLBT. Blair William & Co. IL acquired a new stake in shares of Cellebrite DI in the fourth quarter worth $135,000. Diametric Capital LP bought a new position in Cellebrite DI in the fourth quarter worth $209,000. ETF Managers Group LLC bought a new position in Cellebrite DI in the fourth quarter worth $462,000. Greenhaven Road Investment Management L.P. bought a new position in Cellebrite DI in the fourth quarter worth $9,453,000. Finally, Yarbrough Capital LLC bought a new position in Cellebrite DI in the first quarter worth $414,000. Institutional investors and hedge funds own 20.41% of the company's stock.
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Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on CLBT. Needham & Company LLC increased their target price on shares of Cellebrite DI from $6.00 to $6.50 and gave the company a "buy" rating in a research report on Thursday, August 11th. Cowen reduced their price objective on shares of Cellebrite DI from $13.00 to $10.00 and set an "outperform" rating for the company in a research report on Friday, August 12th. Bank of America lowered shares of Cellebrite DI from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $6.50 to $6.00 in a research note on Friday, August 12th. Cowen reduced their price objective on shares of Cellebrite DI from $13.00 to $10.00 and set an "outperform" rating for the company in a research note on Friday, August 12th. Finally, William Blair lowered shares of Cellebrite DI from an "outperform" rating to a "market perform" rating in a research report on Friday, August 12th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $9.71.
Cellebrite DI Stock Down 1.8 %
Shares of CLBT stock opened at $4.21 on Wednesday. Cellebrite DI has a 12 month low of $4.10 and a 12 month high of $11.60. The business's 50 day moving average is $5.07 and its two-hundred day moving average is $5.36. The company has a market cap of $793.75 million, a PE ratio of 5.69, a price-to-earnings-growth ratio of 10.14 and a beta of 0.87.
Cellebrite DI Company Profile
(Get Rating)
Cellebrite DI Ltd. develops solutions for legally sanctioned investigations. Its DI platform allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations and solutions are used in a various case, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, intellectual property theft, and civil litigation.
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