Mobix Labs, Inc. (NASDAQ:MOBX) Sees Large Drop in Short Interest

Mobix Labs, Inc. (NASDAQ:MOBX) was the recipient of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 1,633,868 shares, a decrease of 59.8% from the May 14th total of 4,064,744 shares. Based on an average trading volume of 1,699,901 shares, the days-to-cover ratio is presently 1.0 days. Approximately 14.6% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MOBX. 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 Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On Mobix Labs

Hedge funds have recently bought and sold shares of the stock. Armistice Capital LLC boosted its position in Mobix Labs by 7.5% in the 3rd quarter. Armistice Capital LLC now owns 4,596,804 shares of the company’s stock worth $3,705,000 after purchasing an additional 320,804 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Mobix Labs by 64.3% during the 1st quarter. Focus Partners Wealth now owns 1,642,857 shares of the company’s stock valued at $1,467,000 after buying an additional 642,857 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Mobix Labs during the 4th quarter valued at approximately $27,000. Mariner LLC lifted its position in shares of Mobix Labs by 103.5% during the 4th quarter. Mariner LLC now owns 135,453 shares of the company’s stock valued at $36,000 after buying an additional 68,879 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Mobix Labs by 17.3% during the 4th quarter. Geode Capital Management LLC now owns 426,198 shares of the company’s stock valued at $114,000 after buying an additional 62,715 shares in the last quarter. Hedge funds and other institutional investors own 8.56% of the company’s stock.

Mobix Labs Stock Performance

Mobix Labs stock traded down $0.17 during mid-day trading on Friday, hitting $1.98. The company had a trading volume of 1,006,017 shares, compared to its average volume of 3,618,145. The company has a current ratio of 0.23, a quick ratio of 0.17 and a debt-to-equity ratio of 0.11. Mobix Labs has a 12-month low of $1.31 and a 12-month high of $14.40. The company’s fifty day moving average is $2.49 and its 200-day moving average is $3.31.

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

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.