Short Interest in Mobix Labs, Inc. (NASDAQ:MOBX) Decreases By 59.8%

Mobix Labs, Inc. (NASDAQ:MOBX) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 1,633,868 shares, a drop of 59.8% from the May 14th total of 4,064,744 shares. Approximately 14.6% of the company’s shares are sold short. Based on an average daily trading volume, of 1,699,901 shares, the short-interest ratio is currently 1.0 days.

Institutional Trading of Mobix Labs

Hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd boosted its holdings in shares of Mobix Labs by 47.4% in the second quarter. XTX Topco Ltd now owns 38,671 shares of the company’s stock valued at $30,000 after buying an additional 12,443 shares during the period. Virtu Financial LLC raised its holdings in shares of Mobix Labs by 247.8% during the fourth quarter. Virtu Financial LLC now owns 94,011 shares of the company’s stock worth $25,000 after acquiring an additional 66,982 shares during the period. Toronto Dominion Bank bought a new stake in Mobix Labs in the 4th quarter valued at $27,000. Mariner LLC boosted its stake in Mobix Labs by 103.5% in the 4th quarter. Mariner LLC now owns 135,453 shares of the company’s stock worth $36,000 after purchasing an additional 68,879 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Mobix Labs by 17.3% during the 4th quarter. Geode Capital Management LLC now owns 426,198 shares of the company’s stock worth $114,000 after purchasing an additional 62,715 shares in the last quarter. 8.56% of the stock is currently owned by institutional investors and hedge funds.

Mobix Labs Stock Performance

Shares of Mobix Labs stock opened at $2.06 on Friday. The stock’s fifty day simple moving average is $2.51 and its 200 day simple moving average is $3.32. The company has a current ratio of 0.23, a quick ratio of 0.17 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $27.67 million, a PE ratio of -0.30 and a beta of -0.76. Mobix Labs has a 12 month low of $1.31 and a 12 month high of $14.40.

Mobix Labs (NASDAQ:MOBX) last announced its quarterly earnings results on Wednesday, May 20th. The company reported ($0.59) earnings per share (EPS) for the quarter. The business had revenue of $0.97 million during the quarter. Mobix Labs had a negative return on equity of 1,175.77% and a negative net margin of 361.77%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MOBX. Weiss Ratings restated a “sell (e+)” rating on shares of Mobix Labs in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Mobix Labs to a “sell” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Mobix Labs currently has an average rating of “Sell”.

About Mobix Labs

Mobix Labs, Inc (NASDAQ: MOBX) is a technology company specializing in device intelligence software and services for the mobile device lifecycle. The company’s core platform enables real-time testing, authentication and diagnostic verification of smartphones and other connected devices. By combining automated testing tools with data analytics, Mobix Labs helps carriers, retailers, original equipment manufacturers (OEMs) and repair centers streamline operations and reduce return rates, fraud and waste.

Mobix Labs offers a suite of products designed to support the full spectrum of device management.