Cellebrite DI Ltd (NASDAQ:CLBT) sees a significant drop in short-term interest

Cellebrite DI Ltd (NASDAQ:CLBT – Get Rating) saw a sharp drop in short-term interest during the month of February. As of February 28, there was short interest totaling 1,950,000 shares, down 20.4% from February 13’s total of 2,450,000 shares. Approximately 5.8% of the company’s shares are sold short. Based on an average daily volume of 291,000 shares, the day-to-cover ratio is currently 6.7 days.

CLBT has been the subject of a number of recent analyst reports. Cowen lowered its price target on Cellebrite DI shares from $20.00 to $17.00 in a Thursday, February 17 research report. JPMorgan Chase & Co. began covering Cellebrite DI shares in a research note on Thursday, February 24. They set an “overweight” rating and a price target of $10.50 for the stock. Zacks Investment Research upgraded Cellebrite DI from a “sell” rating to a “hold” rating and set a target price of $8.00 on the stock in a Monday, February 21 research report. Needham & Company LLC lowered its price target on Cellebrite DI from $12.00 to $9.50 and set a “buy” rating on the stock in a Wednesday, December 29 report. Finally, Deutsche Bank Aktiengesellschaft raised its target price on Cellebrite DI from $10.50 to $11.00 in a Thursday, February 17 report. One analyst rated the stock with a hold rating and seven assigned the stock a buy rating. According to MarketBeat, Cellebrite DI currently has a consensus rating of “Buy” and an average price target of $11.71.

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Lithium is a valuable commodity when it comes to our transition to renewable energy. Developing more domestic sources of the metal has been called a national security issue, since China monopolizes 80% of the world’s lithium. The US Geological Survey calls an area of ​​Nevada the world’s best-known lithium deposit.

Several institutional investors and hedge funds have recently changed their CLBT holdings. CIBC Asset Management Inc acquired a new position in shares of Cellebrite DI during the third quarter worth $20,353,000. Mawer Investment Management Ltd. bought a new position in Cellebrite DI during the third quarter worth approximately $207,000. Geode Capital Management LLC bought a new position in Cellebrite DI during the third quarter worth approximately $681,000. Crescent Park Management LP bought a new position in Cellebrite DI during the third quarter worth approximately $10,209,000. Finally, Penserra Capital Management LLC bought a new position in Cellebrite DI during the third quarter worth approximately $146,000. 19.13% of the shares are currently held by institutional investors.

CLBT stock opened at $6.23 on Wednesday. Cellebrite DI has a 12-month low of $5.07 and a 12-month high of $13.24. The company’s 50-day moving average price is $6.57.

Cellebrite DI (NASDAQ:CLBT – Get Rating) last reported results on Wednesday, February 16. The company reported earnings per share of $0.03 for the quarter, beating Thomson Reuters consensus estimate of $0.02 by $0.01. The company posted revenue of $67.91 million in the quarter, versus analyst estimates of $64.00 million. Research analysts predict Cellebrite DI will post 0.17 earnings per share for the current year.

Company Profile Cellebrite DI (Get an assessment)

TWC Tech Holdings II Corp. is a blank check company. It aims to acquire one or more companies and assets, by merger, stock exchange, acquisition of assets, purchase of shares and reorganization. TWC Tech Holdings II Corp. is based in San Francisco, California.

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