indie Semiconductor, Inc. (NASDAQ:INDI) Short Interest Update

indie Semiconductor, Inc. (NASDAQ:INDI) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 65,575,813 shares, a growth of 33.8% from the February 26th total of 49,005,000 shares. Based on an average trading volume of 9,796,993 shares, the days-to-cover ratio is presently 6.7 days. Currently, 31.1% of the company’s stock are sold short.

indie Semiconductor Trading Down 4.4%

Shares of NASDAQ INDI traded down $0.14 during midday trading on Monday, hitting $3.05. The company’s stock had a trading volume of 3,747,915 shares, compared to its average volume of 7,106,301. The company has a current ratio of 3.73, a quick ratio of 3.10 and a debt-to-equity ratio of 0.88. indie Semiconductor has a 1-year low of $1.53 and a 1-year high of $6.05. The firm’s fifty day moving average price is $3.46 and its 200-day moving average price is $3.97.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The firm had revenue of $58.01 million for the quarter, compared to analyst estimates of $57.11 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. indie Semiconductor’s quarterly revenue was up .0% on a year-over-year basis. On average, equities research analysts forecast that indie Semiconductor will post -0.54 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen cut indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. Finally, UBS Group set a $4.25 price target on indie Semiconductor in a report on Sunday, February 22nd. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $6.45.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, President Ichiro Aoki sold 100,000 shares of the firm’s stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $3.28, for a total transaction of $328,000.00. Following the completion of the transaction, the president directly owned 100,952 shares of the company’s stock, valued at $331,122.56. This trade represents a 49.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald Mcclymont sold 90,644 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $3.56, for a total transaction of $322,692.64. Following the completion of the sale, the chief executive officer directly owned 282,393 shares of the company’s stock, valued at $1,005,319.08. The trade was a 24.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 643,066 shares of company stock worth $2,064,563 in the last ninety days. 5.60% of the stock is owned by insiders.

Institutional Trading of indie Semiconductor

Several hedge funds have recently made changes to their positions in INDI. Evergreen Capital Management LLC acquired a new stake in indie Semiconductor in the second quarter worth $37,000. Gainplan LLC acquired a new position in shares of indie Semiconductor during the fourth quarter valued at $39,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of indie Semiconductor by 45,829.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock valued at $39,000 after acquiring an additional 10,999 shares during the period. Jump Financial LLC bought a new position in shares of indie Semiconductor during the second quarter worth about $39,000. Finally, HBK Sorce Advisory LLC bought a new position in shares of indie Semiconductor during the third quarter worth about $41,000. Institutional investors own 67.73% of the company’s stock.

indie Semiconductor Company Profile

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie’s product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.