Mobix Labs (NASDAQ:MOBX) Shares Down 12.6% – Here’s Why

Mobix Labs, Inc. (NASDAQ:MOBX)’s stock price fell 12.6% during trading on Thursday . The stock traded as low as $0.82 and last traded at $0.82. 199,914 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 504,117 shares. The stock had previously closed at $0.94.

Mobix Labs Price Performance

The business has a fifty day moving average of $1.09 and a 200 day moving average of $1.10. 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 stock has a market cap of $29.56 million, a PE ratio of -0.60 and a beta of -0.31.

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

Insiders Place Their Bets

In other news, Director James J. Peterson sold 146,732 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.04, for a total transaction of $152,601.28. Following the transaction, the director now owns 2,115,574 shares of the company’s stock, valued at approximately $2,200,196.96. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 188,965 shares of company stock valued at $198,618 in the last ninety days. Corporate insiders own 25.10% of the company’s stock.

Institutional Trading of Mobix Labs

Several institutional investors and hedge funds have recently bought and sold shares of MOBX. Geode Capital Management LLC increased its holdings 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 valued at $214,000 after acquiring an additional 46,237 shares during the last quarter. Ieq Capital LLC boosted its holdings in Mobix Labs by 73.1% in the fourth 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. Coppell Advisory Solutions LLC increased its stake in Mobix Labs by 66.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 25,000 shares of the company’s stock valued at $42,000 after purchasing an additional 10,000 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Mobix Labs during the fourth quarter worth $93,000. Finally, Citadel Advisors LLC bought a new position in shares of Mobix Labs in the 4th quarter worth about $104,000. Institutional investors and hedge funds own 8.56% of the company’s stock.

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.