Mobix Labs (NASDAQ:MOBX) Stock Price Down 2.4% – Should You Sell?

Mobix Labs, Inc. (NASDAQ:MOBX)’s stock price traded down 2.4% during mid-day trading on Thursday . The stock traded as low as $1.97 and last traded at $2.01. Approximately 204,642 shares were traded during mid-day trading, a decline of 59% from the average session volume of 496,529 shares. The stock had previously closed at $2.06.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mobix Labs in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Mobix Labs Stock Performance

The company has a quick ratio of 0.17, a current ratio of 0.23 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average of $2.15 and a two-hundred day moving average of $2.91. The company has a market capitalization of $25.67 million, a PE ratio of -0.28 and a beta of -0.74.

Mobix Labs (NASDAQ:MOBX) last released its quarterly earnings results on Wednesday, May 20th. The company reported ($0.59) EPS for the quarter. Mobix Labs had a negative net margin of 361.77% and a negative return on equity of 1,175.77%. The firm had revenue of $0.97 million for the quarter.

Insider Transactions at Mobix Labs

In related news, CFO Keyvan Samini sold 112,110 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $1.98, for a total value of $221,977.80. Following the completion of the sale, the chief financial officer owned 155,053 shares of the company’s stock, valued at approximately $307,004.94. The trade was a 41.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 16.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Armistice Capital LLC purchased a new stake in shares of Mobix Labs in the 2nd quarter valued at approximately $3,272,000. Focus Partners Wealth lifted its stake in Mobix Labs by 64.3% during the 1st quarter. Focus Partners Wealth now owns 1,642,857 shares of the company’s stock worth $1,467,000 after acquiring an additional 642,857 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Mobix Labs in the fourth quarter valued at approximately $27,000. Mariner LLC increased its position in shares of Mobix Labs by 103.5% during 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 period. Finally, Virtu Financial LLC increased its holdings in Mobix Labs by 247.8% during the 4th quarter. Virtu Financial LLC now owns 94,011 shares of the company’s stock worth $25,000 after purchasing an additional 66,982 shares during the period. Hedge funds and other institutional investors own 8.56% of the company’s stock.

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.