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

indie Semiconductor, Inc. (NASDAQ:INDI) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 23,210,000 shares, an increase of 8.3% from the March 15th total of 21,430,000 shares. Approximately 15.2% of the shares of the company are short sold. Based on an average daily volume of 2,430,000 shares, the short-interest ratio is currently 9.6 days.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $5.91 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 1.96 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $6.69 and its 200 day simple moving average is $6.67. indie Semiconductor has a one year low of $4.67 and a one year high of $10.85.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. indie Semiconductor had a negative return on equity of 15.84% and a negative net margin of 52.46%. The business had revenue of $70.13 million for the quarter, compared to analyst estimates of $72.69 million. On average, equities analysts anticipate that indie Semiconductor will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total transaction of $312,500.00. Following the transaction, the chief executive officer now owns 76,750 shares in the company, valued at $479,687.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the transaction, the chief executive officer now directly owns 76,750 shares of the company’s stock, valued at approximately $479,687.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Michael Wittmann sold 8,700 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $6.95, for a total transaction of $60,465.00. Following the completion of the sale, the chief operating officer now directly owns 35,460 shares of the company’s stock, valued at $246,447. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,491 shares of company stock valued at $730,936. Insiders own 9.90% of the company’s stock.

Institutional Trading of indie Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Management Professionals Inc. acquired a new position in indie Semiconductor during the 1st quarter worth $53,000. Register Financial Advisors LLC increased its position in indie Semiconductor by 21.2% in the first quarter. Register Financial Advisors LLC now owns 133,440 shares of the company’s stock worth $945,000 after purchasing an additional 23,300 shares during the period. Bouvel Investment Partners LLC acquired a new position in shares of indie Semiconductor during the 1st quarter worth about $989,000. Salem Investment Counselors Inc. grew its holdings in shares of indie Semiconductor by 7,791.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 51,294 shares of the company’s stock valued at $363,000 after acquiring an additional 50,644 shares in the last quarter. Finally, Moody National Bank Trust Division grew its holdings in shares of indie Semiconductor by 98.5% in the 1st quarter. Moody National Bank Trust Division now owns 544,034 shares of the company’s stock valued at $3,852,000 after acquiring an additional 269,977 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. KeyCorp cut their price target on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Craig Hallum cut their target price on indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $13.50.

About indie Semiconductor

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.