Mobix Labs, Inc. (NASDAQ:MOBX) Short Interest Down 33.1% in March

Mobix Labs, Inc. (NASDAQ:MOBX) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totaling 9,703,339 shares, a decline of 33.1% from the March 15th total of 14,503,159 shares. Based on an average daily volume of 37,375,685 shares, the short-interest ratio is presently 0.3 days. Approximately 113.1% of the company’s shares are sold short.

Analysts Set New Price Targets

Several equities analysts have weighed in on MOBX shares. Wall Street Zen raised Mobix Labs to a “sell” rating in a research note on Saturday, March 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Mobix Labs in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Mobix Labs Trading Down 6.4%

Shares of NASDAQ MOBX traded down $0.17 during midday trading on Tuesday, reaching $2.55. 548,233 shares of the stock were exchanged, compared to its average volume of 6,128,980. Mobix Labs has a 12 month low of $1.31 and a 12 month high of $14.40. The company has a market capitalization of $26.25 million, a price-to-earnings ratio of -0.38 and a beta of -0.62. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.11 and a quick ratio of 0.07. The business has a 50-day simple moving average of $3.88 and a two-hundred day simple moving average of $4.80.

Mobix Labs (NASDAQ:MOBX) last issued its quarterly earnings data on Tuesday, January 13th. The company reported ($2.90) EPS for the quarter. Mobix Labs had a negative return on equity of 2,857.36% and a negative net margin of 289.21%.

Hedge Funds Weigh In On Mobix Labs

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised 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 buying an additional 62,715 shares during the period. Toronto Dominion Bank acquired a new position in shares of Mobix Labs in the fourth quarter valued at approximately $27,000. Focus Partners Wealth increased its position in shares of Mobix Labs by 64.3% during the first quarter. Focus Partners Wealth now owns 1,642,857 shares of the company’s stock worth $1,467,000 after acquiring an additional 642,857 shares in the last quarter. Armistice Capital LLC increased its position in shares of Mobix Labs by 7.5% during the third quarter. Armistice Capital LLC now owns 4,596,804 shares of the company’s stock worth $3,705,000 after acquiring an additional 320,804 shares in the last quarter. Finally, Mariner LLC raised its holdings in shares of Mobix Labs by 103.5% during the fourth quarter. Mariner LLC now owns 135,453 shares of the company’s stock worth $36,000 after acquiring an additional 68,879 shares during the period. 8.56% of the stock is currently owned by institutional investors and hedge funds.

Mobix Labs Company Profile

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.