indie Semiconductor, Inc. (NASDAQ:INDI) Short Interest Update

indie Semiconductor, Inc. (NASDAQ:INDI) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 43,010,000 shares, an increase of 53.3% from the November 30th total of 28,050,000 shares. Currently, 24.0% of the shares of the company are sold short. Based on an average daily volume of 4,630,000 shares, the days-to-cover ratio is presently 9.3 days.

indie Semiconductor Price Performance

Shares of indie Semiconductor stock opened at $4.34 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The firm has a market cap of $876.32 million, a PE ratio of -6.48 and a beta of 1.37. indie Semiconductor has a 12-month low of $3.16 and a 12-month high of $8.55. The company’s fifty day simple moving average is $4.24 and its two-hundred day simple moving average is $4.69.

Insider Activity

In related news, COO Michael Wittmann sold 18,375 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total transaction of $75,337.50. Following the sale, the chief operating officer now owns 28,860 shares of the company’s stock, valued at approximately $118,326. This represents a 38.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Donald Mcclymont sold 200,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total transaction of $942,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at approximately $86,433.21. The trade was a 91.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 271,456 shares of company stock worth $1,249,783. 8.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of INDI. Primecap Management Co. CA raised its holdings in indie Semiconductor by 61.4% in the 3rd quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock worth $101,619,000 after purchasing an additional 9,689,326 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of indie Semiconductor by 290.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock valued at $12,752,000 after purchasing an additional 2,377,612 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of indie Semiconductor during the third quarter valued at about $4,478,000. Harber Asset Management LLC bought a new position in indie Semiconductor in the third quarter worth about $3,406,000. Finally, General American Investors Co. Inc. lifted its holdings in indie Semiconductor by 46.5% in the third quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock worth $5,376,000 after buying an additional 427,928 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

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

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.