Cellebrite DI (NASDAQ:CLBT) Trading Down 5.3%

Cellebrite DI Ltd (NASDAQ:CLBT) shares dropped 5.3% during trading on Friday . The stock traded as low as $6.35 and last traded at $6.37. Approximately 3,949 shares were traded during trading, a decline of 98% from the average daily volume of 224,817 shares. The stock had previously closed at $6.73.

CLBT has been the topic of several recent analyst reports. William Blair assumed coverage on Cellebrite DI in a research note on Friday, September 24th. They set an “outperform” rating on the stock. Citigroup assumed coverage on Cellebrite DI in a research note on Wednesday, October 20th. They issued a “buy” rating and a $15.00 price target on the stock. Needham & Company LLC dropped their price target on Cellebrite DI from $12.00 to $9.50 and set a “buy” rating on the stock in a research note on Wednesday, December 29th. Zacks Investment Research downgraded Cellebrite DI from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Bank of America assumed coverage on Cellebrite DI in a research note on Thursday, December 2nd. They issued a “buy” rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $13.05.

The stock’s fifty day moving average price is $8.47.

Cellebrite DI (NASDAQ:CLBT) last issued its earnings results on Wednesday, November 10th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.06. The firm had revenue of $65.89 million during the quarter, compared to the consensus estimate of $58.80 million. Sell-side analysts expect that Cellebrite DI Ltd will post 0.19 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLBT. Park West Asset Management LLC purchased a new position in Cellebrite DI in the third quarter worth about $25,039,000. CIBC Asset Management Inc purchased a new position in Cellebrite DI in the third quarter worth about $20,353,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Cellebrite DI in the third quarter worth about $12,964,000. Crescent Park Management L.P. purchased a new position in Cellebrite DI in the third quarter worth about $10,209,000. Finally, Geode Capital Management LLC purchased a new position in Cellebrite DI in the third quarter worth about $681,000. Institutional investors own 24.33% of the company’s stock.

About Cellebrite DI (NASDAQ:CLBT)

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.

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