Short Interest in indie Semiconductor, Inc. (NASDAQ:INDI) Drops By 8.4%

indie Semiconductor, Inc. (NASDAQ:INDI) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 26,780,000 shares, a decrease of 8.4% from the October 31st total of 29,250,000 shares. Approximately 14.9% of the company’s shares are sold short. Based on an average trading volume of 3,260,000 shares, the days-to-cover ratio is presently 8.2 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Roth Mkm dropped their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Benchmark dropped their target price 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. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, indie Semiconductor has a consensus rating of “Buy” and a consensus price target of $8.92.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total value of $287,250.00. Following the sale, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at approximately $3,742,645.36. This represents a 7.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Donald Mcclymont sold 200,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $86,433.21. This represents a 91.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 281,612 shares of company stock worth $1,259,860. 8.20% of the stock is currently owned by insiders.

Institutional Trading of indie Semiconductor

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after purchasing an additional 3,906 shares during the period. Virtu Financial LLC acquired a new stake in indie Semiconductor during the 3rd quarter worth $58,000. Xponance Inc. acquired a new stake in indie Semiconductor during the 2nd quarter worth $63,000. Creative Planning acquired a new stake in indie Semiconductor during the 3rd quarter worth $75,000. Finally, Legato Capital Management LLC acquired a new stake in shares of indie Semiconductor in the 2nd quarter worth $76,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Stock Performance

NASDAQ:INDI traded up $0.05 during trading hours on Monday, reaching $5.28. 1,581,554 shares of the company’s stock were exchanged, compared to its average volume of 2,885,146. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -7.87 and a beta of 1.22. The company has a 50-day moving average of $4.03 and a 200 day moving average of $5.03. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. indie Semiconductor has a 1-year low of $3.16 and a 1-year high of $8.69.

About indie Semiconductor

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.