Traders Buy Large Volume of indie Semiconductor Call Options (NASDAQ:INDI)

indie Semiconductor, Inc. (NASDAQ:INDI) was the recipient of some unusual options trading on Monday. Stock investors acquired 1,914 call options on the company. This represents an increase of approximately 122% compared to the average daily volume of 864 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on INDI shares. Roth Mkm reduced their price target on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft lowered their price target on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Benchmark dropped their price target on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $9.79.

indie Semiconductor Stock Performance

Shares of INDI opened at $4.75 on Wednesday. The firm has a fifty day moving average of $3.71 and a 200-day moving average of $5.14. The company has a market cap of $937.73 million, a price-to-earnings ratio of -7.58 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66. indie Semiconductor has a 1 year low of $3.16 and a 1 year high of $8.69.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of indie Semiconductor 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 sale, the chief financial officer now directly owns 977,192 shares in the company, valued at $3,742,645.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of INDI. GAMMA Investing LLC boosted its position in shares of indie Semiconductor by 1,743.8% during the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after buying an additional 3,906 shares during the period. Xponance Inc. acquired a new position in shares of indie Semiconductor during the second quarter valued at $63,000. Legato Capital Management LLC bought a new stake in shares of indie Semiconductor during the second quarter valued at about $76,000. SlateStone Wealth LLC acquired a new stake in indie Semiconductor in the second quarter worth about $82,000. Finally, Algert Global LLC bought a new stake in shares of indie Semiconductor during the 2nd quarter worth about $97,000. 67.73% of the stock is owned by institutional investors and hedge funds.

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.