Mobix Labs, Inc. (NASDAQ:MOBX) Short Interest Down 23.8% in March

Mobix Labs, Inc. (NASDAQ:MOBX) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 884,200 shares, a drop of 23.8% from the March 15th total of 1,160,000 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily volume of 603,100 shares, the days-to-cover ratio is currently 1.5 days.

Insider Buying and Selling

In related news, Director James J. Peterson sold 146,732 shares of Mobix Labs stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.04, for a total value of $152,601.28. Following the sale, the director now owns 2,115,574 shares in the company, valued at $2,200,196.96. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 188,965 shares of company stock valued at $198,618 over the last ninety days. 25.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Mobix Labs

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC lifted its position in Mobix Labs by 66.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 25,000 shares of the company’s stock valued at $42,000 after acquiring an additional 10,000 shares during the period. Ieq Capital LLC boosted its position in shares of Mobix Labs by 73.1% in the 4th quarter. Ieq Capital LLC now owns 34,620 shares of the company’s stock worth $59,000 after purchasing an additional 14,620 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Mobix Labs in the 4th quarter worth approximately $93,000. Citadel Advisors LLC bought a new position in Mobix Labs during the 4th quarter valued at approximately $104,000. Finally, Geode Capital Management LLC raised its stake in Mobix Labs by 29.8% during the third quarter. Geode Capital Management LLC now owns 201,578 shares of the company’s stock valued at $214,000 after buying an additional 46,237 shares during the last quarter. Hedge funds and other institutional investors own 8.56% of the company’s stock.

Mobix Labs Trading Down 4.7 %

Shares of MOBX traded down $0.04 during trading hours on Friday, reaching $0.79. 30,518 shares of the company traded hands, compared to its average volume of 511,241. Mobix Labs has a 12 month low of $0.55 and a 12 month high of $3.62. The company has a quick ratio of 0.09, a current ratio of 0.13 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average price is $0.98 and its two-hundred day moving average price is $1.08. The company has a market capitalization of $31.35 million, a price-to-earnings ratio of -0.59 and a beta of -0.17.

Mobix Labs (NASDAQ:MOBX) last posted its earnings results on Tuesday, February 18th. The company reported ($0.52) earnings per share for the quarter. The firm had revenue of $3.17 million for the quarter. Mobix Labs had a negative return on equity of 866.93% and a negative net margin of 437.57%.

About Mobix Labs

Mobix Labs, Inc, a fabless semiconductor company, provides wireless and connectivity solutions for next generation communication systems, including C-Band and mmWave 5G and high bandwidth cable applications. Its products include True5G chipset solutions; true xero active optical cables and related products designed to deliver fiber optic connectivity for a range of applications, including 5G infrastructure, autonomous vehicles, Pro A/V, AR/VR, remote medical systems, and others; electromagnetic interference filters deployed in aerospace, military, defense, medical, and healthcare products.