Mobix Labs, Inc. (NASDAQ:MOBX) Short Interest Down 23.8% in March

Mobix Labs, Inc. (NASDAQ:MOBX) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 884,200 shares, a decrease of 23.8% from the March 15th total of 1,160,000 shares. Based on an average trading volume of 603,100 shares, the days-to-cover ratio is currently 1.5 days. Currently, 2.8% of the company’s stock are short sold.

Insider Activity at Mobix Labs

In other news, Director James J. Peterson sold 146,732 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.04, for a total value of $152,601.28. Following the completion of the transaction, the director now owns 2,115,574 shares in the company, valued at $2,200,196.96. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 188,965 shares of company stock valued at $198,618. 25.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mobix Labs

Several hedge funds and other institutional investors have recently made changes to their positions in MOBX. Vanguard Capital Wealth Advisors grew its position in Mobix Labs by 2,528.7% during the first quarter. Vanguard Capital Wealth Advisors now owns 788,620 shares of the company’s stock valued at $704,000 after buying an additional 758,620 shares during the period. Citadel Advisors LLC purchased a new position in shares of Mobix Labs during the 4th quarter worth $104,000. Jane Street Group LLC bought a new stake in shares of Mobix Labs during the 4th quarter valued at $93,000. Geode Capital Management LLC increased its stake in shares of Mobix Labs by 29.8% in the 3rd quarter. Geode Capital Management LLC now owns 201,578 shares of the company’s stock worth $214,000 after purchasing an additional 46,237 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in Mobix Labs by 73.1% in the 4th quarter. Ieq Capital LLC now owns 34,620 shares of the company’s stock worth $59,000 after purchasing an additional 14,620 shares during the period. Hedge funds and other institutional investors own 8.56% of the company’s stock.

Mobix Labs Stock Performance

Mobix Labs stock traded down $0.04 during midday trading on Friday, reaching $0.79. 30,518 shares of the company traded hands, compared to its average volume of 511,241. Mobix Labs has a 12 month low of $0.55 and a 12 month high of $3.62. 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 business has a 50 day moving average of $0.98 and a two-hundred day moving average of $1.08. The firm has a market capitalization of $31.35 million, a price-to-earnings ratio of -0.59 and a beta of -0.17.

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

Mobix Labs Company Profile

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.