Cellebrite DI (NASDAQ:CLBT) Stock Price Down 4.6%

Cellebrite DI Ltd. (NASDAQ:CLBT) shares fell 4.6% during mid-day trading on Wednesday . The stock traded as low as $11.29 and last traded at $11.32. 242,236 shares traded hands during trading, a decline of 74% from the average session volume of 936,235 shares. The stock had previously closed at $11.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CLBT shares. Bank of America upgraded Cellebrite DI from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $9.00 to $12.00 in a research note on Friday, February 16th. William Blair raised shares of Cellebrite DI from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 13th. Finally, Needham & Company LLC upped their target price on shares of Cellebrite DI from $13.00 to $13.50 and gave the company a “buy” rating in a report on Thursday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cellebrite DI presently has a consensus rating of “Buy” and a consensus target price of $11.10.

Cellebrite DI Stock Down 3.2 %

The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -25.77, a P/E/G ratio of 2.02 and a beta of 1.56. The company’s fifty day simple moving average is $10.69 and its 200 day simple moving average is $8.82.

Cellebrite DI (NASDAQ:CLBT) last released 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. Cellebrite DI had a positive return on equity of 173.14% and a negative net margin of 24.94%. The business had revenue of $93.01 million during the quarter, compared to the consensus estimate of $85.43 million. As a group, analysts anticipate that Cellebrite DI Ltd. will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Cellebrite DI

A number of institutional investors have recently modified their holdings of the business. Brasada Capital Management LP raised its stake in Cellebrite DI by 125.1% in the 3rd quarter. Brasada Capital Management LP now owns 375,332 shares of the company’s stock worth $2,762,000 after purchasing an additional 208,566 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Cellebrite DI during the 3rd quarter valued at $50,270,000. Swiss National Bank grew its holdings in shares of Cellebrite DI by 30.7% during the 3rd quarter. Swiss National Bank now owns 107,800 shares of the company’s stock worth $825,000 after purchasing an additional 25,300 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Cellebrite DI by 166.0% in the third quarter. New York State Common Retirement Fund now owns 15,440 shares of the company’s stock worth $118,000 after purchasing an additional 9,635 shares during the period. Finally, Meitav Investment House Ltd. bought a new position in shares of Cellebrite DI in the third quarter worth $2,399,000. Institutional investors own 45.88% of the company’s stock.

About Cellebrite DI

Cellebrite DI Ltd. develops solutions for legally sanctioned investigations in Europe, the Middle East, Africa, the United States, and the Asia-Pacific. Its DI suite of solutions 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.