Mobix Labs (NASDAQ:MOBX) Trading Down 12.6% – What’s Next?

Mobix Labs, Inc. (NASDAQ:MOBX)’s share price was down 12.6% during mid-day trading on Thursday . The company traded as low as $0.82 and last traded at $0.82. Approximately 199,914 shares changed hands during trading, a decline of 60% from the average daily volume of 504,117 shares. The stock had previously closed at $0.94.

Mobix Labs Stock Down 12.6 %

The company’s 50-day simple moving average is $1.10 and its two-hundred day simple moving average is $1.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.13 and a quick ratio of 0.09. The firm has a market capitalization of $30.34 million, a P/E ratio of -0.62 and a beta of -0.31.

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

Insider Buying and Selling at Mobix Labs

In related news, Director James J. Peterson sold 146,732 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.04, for a total value of $152,601.28. Following the completion of the sale, the director now directly owns 2,115,574 shares of the company’s stock, valued at $2,200,196.96. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 188,965 shares of company stock worth $198,618 over the last 90 days. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Mobix Labs

Several large investors have recently bought and sold shares of MOBX. Coppell Advisory Solutions LLC increased its stake in shares of Mobix Labs by 66.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 25,000 shares of the company’s stock worth $42,000 after acquiring an additional 10,000 shares during the period. Ieq Capital LLC raised its stake in shares of Mobix Labs by 73.1% during the 4th quarter. Ieq Capital LLC now owns 34,620 shares of the company’s stock worth $59,000 after buying an additional 14,620 shares during the period. Jane Street Group LLC acquired a new stake in shares of Mobix Labs in the fourth quarter valued at about $93,000. Citadel Advisors LLC acquired a new stake in shares of Mobix Labs in the fourth quarter worth approximately $104,000. Finally, Geode Capital Management LLC grew its holdings in shares of Mobix Labs by 29.8% during the third quarter. Geode Capital Management LLC now owns 201,578 shares of the company’s stock worth $214,000 after buying an additional 46,237 shares in the last quarter. Hedge funds and other institutional investors own 8.56% of the company’s stock.

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.