Mobix Labs, Inc. (NASDAQ:MOBX) Short Interest Down 28.9% in February

Mobix Labs, Inc. (NASDAQ:MOBX) was the target of a large drop in short interest during 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 shares are short sold. Based on an average daily trading volume, of 2,557,840 shares, the short-interest ratio is presently 1.5 days. Based on an average daily trading volume, of 2,557,840 shares, the short-interest ratio is presently 1.5 days. Currently, 5.6% of the company’s shares are short sold.

Insider Buying and Selling

In other Mobix Labs news, CFO Keyvan Samini sold 211,672 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $0.32, for a total transaction of $67,735.04. Following the completion of the transaction, the chief financial officer owned 2,671,661 shares of the company’s stock, valued at $854,931.52. This trade represents a 7.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 16.73% of the company’s stock.

Hedge Funds Weigh In On Mobix Labs

Several institutional investors have recently bought and sold shares of MOBX. Virtu Financial LLC raised its holdings in Mobix Labs by 247.8% during the fourth quarter. Virtu Financial LLC now owns 94,011 shares of the company’s stock worth $25,000 after purchasing an additional 66,982 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Mobix Labs in the 4th quarter valued at about $27,000. XTX Topco Ltd boosted its holdings in Mobix Labs by 47.4% during the second quarter. XTX Topco Ltd now owns 38,671 shares of the company’s stock worth $30,000 after buying an additional 12,443 shares in the last quarter. Mariner LLC increased its holdings in Mobix Labs by 103.5% in the fourth 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, Beacon Pointe Advisors LLC grew its holdings in shares of Mobix Labs by 432.7% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 108,017 shares of the company’s stock worth $83,000 after acquiring an additional 87,738 shares during the period. 8.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MOBX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mobix Labs in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Mobix Labs to a “sell” rating in a research note on Saturday, March 7th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Mobix Labs presently has an average rating of “Sell”.

Mobix Labs Stock Down 13.7%

MOBX stock traded down $0.10 during midday trading on Friday, reaching $0.63. 22,367,161 shares of the company were exchanged, compared to its average volume of 69,772,768. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.07 and a current ratio of 0.11. The stock’s 50-day simple moving average is $0.32 and its 200 day simple moving average is $0.57. The company has a market cap of $64.96 million, a price-to-earnings ratio of -0.93 and a beta of -0.07. Mobix Labs has a 1-year low of $0.13 and a 1-year high of $1.44.

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