Mobix Labs (NASDAQ:MOBX) Releases Quarterly Earnings Results

Mobix Labs (NASDAQ:MOBX) issued its quarterly earnings results on Monday. The company reported ($1.33) earnings per share (EPS) for the quarter, Zacks reports. Mobix Labs had a negative net margin of 361.77% and a negative return on equity of 1,175.77%. The business had revenue of $0.79 million during the quarter.

Mobix Labs Price Performance

Shares of NASDAQ:MOBX opened at $1.09 on Wednesday. Mobix Labs has a one year low of $1.03 and a one year high of $14.40. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.23 and a quick ratio of 0.17. The company has a market cap of $14.65 million, a price-to-earnings ratio of -0.16 and a beta of -0.72. The firm has a 50 day simple moving average of $1.88 and a 200 day simple moving average of $2.73.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mobix Labs in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Insider Buying and Selling at Mobix Labs

In other news, CFO Keyvan Samini sold 112,110 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $1.98, for a total transaction of $221,977.80. Following the completion of the transaction, the chief financial officer directly owned 155,053 shares in the company, valued at approximately $307,004.94. This represents a 41.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.73% of the company’s stock.

Institutional Investors Weigh In On Mobix Labs

Hedge funds have recently modified their holdings of the company. Armistice Capital LLC bought a new stake in shares of Mobix Labs during the second quarter worth about $3,272,000. Focus Partners Wealth raised its holdings in Mobix Labs by 64.3% in 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 during the last quarter. Toronto Dominion Bank bought a new position in Mobix Labs in the 4th quarter valued at approximately $27,000. Mariner LLC raised its holdings in Mobix Labs by 103.5% in 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 during the last quarter. Finally, Virtu Financial LLC boosted its position 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 buying an additional 66,982 shares during the period. Institutional investors and hedge funds own 8.56% of the company’s stock.

Mobix Labs Company Profile

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.