Mobix Labs, Inc. (NASDAQ:MOBX) Sees Significant Decrease in Short Interest

Mobix Labs, Inc. (NASDAQ:MOBX) was the target of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 3,900,417 shares, a drop of 28.9% from the February 12th total of 5,483,051 shares. Currently, 5.6% of the company’s stock are short sold. Based on an average daily volume of 2,557,840 shares, the days-to-cover ratio is presently 1.5 days. Based on an average daily volume of 2,557,840 shares, the days-to-cover ratio is presently 1.5 days. Currently, 5.6% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MOBX shares. Wall Street Zen upgraded shares of Mobix Labs to a “sell” rating in a report on Saturday, March 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mobix Labs in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Insider Buying and Selling

In other Mobix Labs news, CFO Keyvan Samini sold 211,672 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $0.32, for a total value of $67,735.04. Following the transaction, the chief financial officer owned 2,671,661 shares in the company, valued at approximately $854,931.52. This represents a 7.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 16.73% of the company’s stock.

Hedge Funds Weigh In On Mobix Labs

Institutional investors have recently made changes to their positions in the business. Virtu Financial LLC boosted its stake in Mobix Labs by 247.8% during the 4th quarter. Virtu Financial LLC now owns 94,011 shares of the company’s stock valued at $25,000 after purchasing an additional 66,982 shares during the period. Toronto Dominion Bank bought a new position in Mobix Labs in the 4th quarter worth approximately $27,000. XTX Topco Ltd increased its position in Mobix Labs by 47.4% in the 2nd quarter. XTX Topco Ltd now owns 38,671 shares of the company’s stock valued at $30,000 after acquiring an additional 12,443 shares in the last quarter. Mariner LLC raised its stake in shares of Mobix Labs by 103.5% in the fourth quarter. Mariner LLC now owns 135,453 shares of the company’s stock worth $36,000 after acquiring an additional 68,879 shares during the last quarter. Finally, Beacon Pointe Advisors LLC lifted its position in shares of Mobix Labs by 432.7% during the second quarter. Beacon Pointe Advisors LLC now owns 108,017 shares of the company’s stock worth $83,000 after purchasing an additional 87,738 shares in the last quarter. 8.56% of the stock is currently owned by institutional investors.

Mobix Labs Stock Down 12.7%

NASDAQ:MOBX traded down $0.08 during mid-day trading on Monday, reaching $0.55. The stock had a trading volume of 22,184,303 shares, compared to its average volume of 73,874,586. The stock has a market cap of $56.69 million, a P/E ratio of -0.81 and a beta of -0.07. The business’s 50 day moving average is $0.32 and its 200 day moving average is $0.57. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.11 and a quick ratio of 0.07. Mobix Labs has a fifty-two week low of $0.13 and a fifty-two week high of $1.44.

Mobix Labs (NASDAQ:MOBX) last posted its earnings results on Thursday, February 12th. The company reported ($0.16) earnings per share (EPS) for the quarter. The firm had revenue of $1.88 million during the quarter. Mobix Labs had a negative net margin of 289.21% and a negative return on equity of 2,857.36%.

About Mobix Labs

Mobix Labs, Inc (NASDAQ: MOBX) is a technology company specializing in device intelligence software and services for the mobile device lifecycle. The company’s core platform enables real-time testing, authentication and diagnostic verification of smartphones and other connected devices. By combining automated testing tools with data analytics, Mobix Labs helps carriers, retailers, original equipment manufacturers (OEMs) and repair centers streamline operations and reduce return rates, fraud and waste.

Mobix Labs offers a suite of products designed to support the full spectrum of device management.