Short Interest in indie Semiconductor, Inc. (NASDAQ:INDI) Rises By 5.1%

indie Semiconductor, Inc. (NASDAQ:INDI) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 45,200,000 shares, an increase of 5.1% from the December 15th total of 43,010,000 shares. Based on an average daily trading volume, of 4,900,000 shares, the days-to-cover ratio is currently 9.2 days. Currently, 25.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INDI. Roth Mkm cut their price target on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, November 8th. Benchmark reduced their target price on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, indie Semiconductor presently has an average rating of “Buy” and an average price target of $8.92.

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $4.28 on Tuesday. The stock has a 50-day moving average price of $4.42 and a 200 day moving average price of $4.43. The stock has a market capitalization of $864.22 million, a P/E ratio of -6.39 and a beta of 1.41. indie Semiconductor has a 12-month low of $3.16 and a 12-month high of $7.82. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

Insiders Place Their Bets

In other indie Semiconductor news, COO Michael Wittmann sold 18,375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $4.10, for a total value of $75,337.50. Following the transaction, the chief operating officer now directly owns 28,860 shares of the company’s stock, valued at approximately $118,326. This trade represents a 38.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the sale, the chief executive officer now owns 18,351 shares of the company’s stock, valued at $79,092.81. This trade represents a 73.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,593 shares of company stock valued at $1,272,291. 8.20% of the stock is owned by insiders.

Institutional Investors Weigh In On indie Semiconductor

Institutional investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA lifted its holdings in shares of indie Semiconductor by 61.4% in the third quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock worth $101,619,000 after buying an additional 9,689,326 shares in the last quarter. Bamco Inc. NY lifted its stake in indie Semiconductor by 0.6% in the 3rd quarter. Bamco Inc. NY now owns 15,240,606 shares of the company’s stock worth $60,810,000 after purchasing an additional 89,181 shares in the last quarter. State Street Corp boosted its holdings in shares of indie Semiconductor by 2.3% during the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after purchasing an additional 161,132 shares during the last quarter. Artemis Investment Management LLP grew its position in shares of indie Semiconductor by 482.7% during the fourth quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock valued at $26,486,000 after purchasing an additional 5,417,296 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of indie Semiconductor by 7.5% during the third quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock valued at $15,739,000 after purchasing an additional 276,739 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

indie Semiconductor Company Profile

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.