indie Semiconductor, Inc. (NASDAQ:INDI – Get Rating) saw a significant increase in short interest in November. As of November 30th, there was short interest totalling 14,560,000 shares, an increase of 31.3% from the November 15th total of 11,090,000 shares. Currently, 19.2% of the company's stock are short sold. Based on an average daily volume of 1,440,000 shares, the days-to-cover ratio is currently 10.1 days.
Insiders Place Their Bets
In other news, CTO Scott David Kee sold 200,000 shares of the firm's stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $8.82, for a total transaction of $1,764,000.00. Following the transaction, the chief technology officer now directly owns 669 shares in the company, valued at $5,900.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CTO Scott David Kee sold 200,000 shares of the firm's stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $8.82, for a total transaction of $1,764,000.00. Following the transaction, the chief technology officer now directly owns 669 shares in the company, valued at $5,900.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Steven Machuga sold 55,000 shares of the firm's stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $6.84, for a total transaction of $376,200.00. Following the transaction, the chief operating officer now owns 89,253 shares in the company, valued at $610,490.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 395,835 shares of company stock valued at $3,233,855. 14.30% of the stock is owned by corporate insiders.
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Institutional Investors Weigh In On indie Semiconductor
Institutional investors have recently made changes to their positions in the stock. WINTON GROUP Ltd purchased a new stake in shares of indie Semiconductor during the 2nd quarter worth $167,000. Elemental Capital Partners LLC raised its stake in shares of indie Semiconductor by 44.8% during the 2nd quarter. Elemental Capital Partners LLC now owns 1,054,683 shares of the company's stock worth $6,012,000 after buying an additional 326,390 shares during the last quarter. Wealth Effects LLC acquired a new position in shares of indie Semiconductor during the 2nd quarter worth $1,168,000. Private Advisor Group LLC acquired a new position in shares of indie Semiconductor during the 2nd quarter worth $99,000. Finally, Kennedy Capital Management Inc. raised its stake in shares of indie Semiconductor by 8.1% during the 2nd quarter. Kennedy Capital Management Inc. now owns 350,562 shares of the company's stock worth $1,998,000 after buying an additional 26,214 shares during the last quarter. 34.35% of the stock is currently owned by hedge funds and other institutional investors.
indie Semiconductor Price Performance
Shares of NASDAQ INDI traded up $0.03 during trading on Friday, hitting $6.86. 2,028,844 shares of the company were exchanged, compared to its average volume of 1,337,909. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -12.70 and a beta of 0.70. indie Semiconductor has a 1 year low of $5.07 and a 1 year high of $12.26. The firm's fifty day moving average price is $7.56 and its 200 day moving average price is $7.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.51 and a quick ratio of 3.30.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on INDI shares. Craig Hallum lowered their price objective on shares of indie Semiconductor to $14.00 in a research report on Wednesday, November 16th. TheStreet upgraded shares of indie Semiconductor from a "d" rating to a "c-" rating in a research report on Monday, November 14th.
About indie Semiconductor
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indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets.
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