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

indie Semiconductor, Inc. (NASDAQ:INDI) saw a significant increase in short interest in September. As of September 15th, there was short interest totalling 28,850,000 shares, an increase of 8.6% from the August 31st total of 26,560,000 shares. Approximately 16.5% of the company’s stock are sold short. Based on an average daily trading volume, of 2,690,000 shares, the short-interest ratio is currently 10.7 days.

indie Semiconductor Price Performance

Shares of NASDAQ:INDI opened at $3.99 on Tuesday. The company has a quick ratio of 2.20, a current ratio of 2.66 and a debt-to-equity ratio of 0.31. indie Semiconductor has a one year low of $3.16 and a one year high of $8.69. The company has a 50-day simple moving average of $4.35 and a 200-day simple moving average of $5.68.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $52.40 million during the quarter, compared to analysts’ expectations of $53.61 million. indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm earned ($0.11) EPS. As a group, equities research analysts forecast that indie Semiconductor will post -0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $12.00 price target on shares of indie Semiconductor in a research report on Tuesday, September 10th. Roth Mkm reduced their target price on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $10.50.

Insider Buying and Selling at indie Semiconductor

In related news, CFO Thomas Schiller sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the sale, the chief financial officer now owns 977,192 shares in the company, valued at $3,742,645.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 80,260 shares of company stock worth $311,514 over the last ninety days. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Institutional investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. boosted its holdings in shares of indie Semiconductor by 40.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $56,000 after acquiring an additional 2,000 shares in the last quarter. ProShare Advisors LLC boosted its holdings in indie Semiconductor by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 27,071 shares of the company’s stock valued at $192,000 after purchasing an additional 2,131 shares in the last quarter. Principal Financial Group Inc. increased its position in indie Semiconductor by 15.3% during the 1st quarter. Principal Financial Group Inc. now owns 20,162 shares of the company’s stock worth $143,000 after purchasing an additional 2,674 shares during the period. GAMMA Investing LLC raised its stake in shares of indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after buying an additional 3,906 shares in the last quarter. Finally, Quent Capital LLC lifted its holdings in shares of indie Semiconductor by 66.7% in the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $71,000 after buying an additional 4,000 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

indie Semiconductor Company Profile

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.