Mobix Labs (NASDAQ:MOBX) Issues Quarterly Earnings Results

Mobix Labs (NASDAQ:MOBX) announced its earnings results on Monday. The company reported ($1.33) earnings per share (EPS) for the quarter, Zacks reports. Mobix Labs had a negative net margin of 361.77% and a negative return on equity of 1,175.77%.

Mobix Labs Trading Down 13.5%

Shares of Mobix Labs stock opened at $1.09 on Wednesday. Mobix Labs has a 1 year low of $1.03 and a 1 year high of $14.40. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.23 and a quick ratio of 0.17. The stock has a market cap of $14.65 million, a PE ratio of -0.16 and a beta of -0.72. The firm has a fifty day moving average price of $1.88 and a 200 day moving average price of $2.73.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mobix Labs in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Insider Buying and Selling at Mobix Labs

In other Mobix Labs news, CFO Keyvan Samini sold 112,110 shares of Mobix Labs stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $1.98, for a total transaction of $221,977.80. Following the completion of the transaction, the chief financial officer owned 155,053 shares in the company, valued at approximately $307,004.94. This trade represents a 41.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 16.73% of the company’s stock.

Institutional Investors Weigh In On Mobix Labs

Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd lifted its holdings in Mobix Labs by 47.4% during the second quarter. XTX Topco Ltd now owns 38,671 shares of the company’s stock valued at $30,000 after purchasing an additional 12,443 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 during the last quarter. Virtu Financial LLC raised its position in shares of Mobix Labs by 247.8% during the 4th quarter. Virtu Financial LLC now owns 94,011 shares of the company’s stock worth $25,000 after purchasing an additional 66,982 shares during the last quarter. Mariner LLC lifted its stake in Mobix Labs by 103.5% in the 4th quarter. Mariner LLC now owns 135,453 shares of the company’s stock valued at $36,000 after buying an additional 68,879 shares in the last quarter. Finally, Toronto Dominion Bank purchased a new position in Mobix Labs in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 8.56% of the company’s stock.

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.