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

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

indie Semiconductor Price Performance

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on INDI shares. Roth Mkm cut their price target on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Benchmark cut their price target 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 equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $8.92.

Insider Transactions at indie Semiconductor

In other news, 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 value of $942,000.00. Following the completion of the sale, the chief executive officer now owns 18,351 shares in the company, valued at approximately $86,433.21. This trade represents a 91.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the sale, the chief financial officer now owns 977,192 shares of the company’s stock, valued at $3,742,645.36. This trade represents a 7.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 281,612 shares of company stock worth $1,259,860. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds have recently added to or reduced their stakes in the business. General American Investors Co. Inc. grew its holdings in shares of indie Semiconductor by 46.5% during 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 in the last quarter. Vanguard Group Inc. grew its holdings in shares of indie Semiconductor by 3.2% during the first quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock worth $75,047,000 after buying an additional 332,500 shares in the last quarter. Comerica Bank grew its holdings in shares of indie Semiconductor by 23,949.9% during the first quarter. Comerica Bank now owns 314,813 shares of the company’s stock worth $2,229,000 after buying an additional 313,504 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of indie Semiconductor during the third quarter worth about $4,478,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of indie Semiconductor by 14.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,108 shares of the company’s stock worth $306,000 after buying an additional 5,394 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.