Mobix Labs (NASDAQ:MOBX) Announces Earnings Results

Mobix Labs (NASDAQ:MOBXGet Free Report) issued its quarterly earnings data on Monday. The company reported ($1.33) earnings per share (EPS) for the quarter, Zacks reports. 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 $0.79 million for the quarter.

Mobix Labs Stock Down 13.5%

Shares of NASDAQ:MOBX opened at $1.09 on Wednesday. The firm has a market capitalization of $14.65 million, a PE ratio of -0.16 and a beta of -0.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.17 and a current ratio of 0.23. Mobix Labs has a 52-week low of $1.03 and a 52-week high of $14.40. The firm has a fifty day moving average of $1.88 and a 200 day moving average of $2.73.

Insiders Place Their Bets

In other Mobix Labs news, CFO Keyvan Samini sold 112,110 shares of Mobix Labs stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $1.98, for a total transaction 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 $307,004.94. The trade was a 41.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Mobix Labs

Several institutional investors have recently modified their holdings of the company. XTX Topco Ltd grew its position in Mobix Labs by 47.4% during the second quarter. XTX Topco Ltd now owns 38,671 shares of the company’s stock valued at $30,000 after acquiring an additional 12,443 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Mobix Labs by 17.3% in the 4th quarter. Geode Capital Management LLC now owns 426,198 shares of the company’s stock worth $114,000 after acquiring an additional 62,715 shares during the last quarter. Virtu Financial LLC boosted its stake in shares of Mobix Labs by 247.8% in the 4th quarter. Virtu Financial LLC now owns 94,011 shares of the company’s stock valued at $25,000 after purchasing an additional 66,982 shares in the last quarter. Mariner LLC grew its holdings 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 purchasing an additional 68,879 shares during the last quarter. Finally, Toronto Dominion Bank purchased a new position in Mobix Labs in the 4th quarter worth $27,000. 8.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis on MOBX

About Mobix Labs

(Get Free Report)

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.

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Earnings History for Mobix Labs (NASDAQ:MOBX)

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