Cellebrite DI (NASDAQ:CLBT) Downgraded by Zacks Investment Research

Cellebrite DI (NASDAQ:CLBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Cellebrite DI Ltd. provides digital intelligence solutions for the public and private sectors. Cellebrite DI Ltd., formerly known as TWC Tech Holdings II Corp., is based in SAN FRANCISCO. “

Other research analysts also recently issued research reports about the stock. Citigroup initiated coverage on shares of Cellebrite DI in a research note on Wednesday, October 20th. They issued a “buy” rating and a $15.00 target price on the stock. Needham & Company LLC assumed coverage on Cellebrite DI in a research note on Wednesday, September 29th. They set a “buy” rating and a $12.00 target price on the stock. William Blair initiated coverage on Cellebrite DI in a research note on Friday, September 24th. They issued an “outperform” rating for the company. Finally, Cowen initiated coverage on Cellebrite DI in a report on Monday, September 13th. They set an “outperform” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $14.19.

Shares of CLBT traded down $0.13 on Thursday, reaching $8.49. The stock had a trading volume of 241,387 shares, compared to its average volume of 438,099. Cellebrite DI has a 12-month low of $8.46 and a 12-month high of $13.24. The company’s 50-day moving average price is $10.11.

Several institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc purchased a new stake in shares of Cellebrite DI during the 3rd quarter valued at about $20,353,000. Mawer Investment Management Ltd. bought a new stake in Cellebrite DI during the third quarter valued at approximately $207,000. Geode Capital Management LLC purchased a new stake in Cellebrite DI during the third quarter valued at approximately $681,000. Crescent Park Management L.P. bought a new position in Cellebrite DI in the third quarter worth approximately $10,209,000. Finally, Penserra Capital Management LLC bought a new position in Cellebrite DI in the third quarter worth approximately $146,000.

Cellebrite DI Company Profile

TWC Tech Holdings II Corp. is a blank check company. It aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase and reorganization. TWC Tech Holdings II Corp. is based in San Francisco, California.

Further Reading: Secondary Public Offerings

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