Mobix Labs (NASDAQ:MOBX) Shares Down 12.6% – Should You Sell?

Shares of Mobix Labs, Inc. (NASDAQ:MOBX) were down 12.6% during trading on Thursday . The company traded as low as $0.82 and last traded at $0.82. Approximately 199,914 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 504,117 shares. The stock had previously closed at $0.94.

Mobix Labs Price Performance

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 company has a fifty day moving average price of $1.09 and a 200 day moving average price of $1.10. The company has a market capitalization of $29.56 million, a P/E ratio of -0.60 and a beta of -0.31.

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

Insider Buying and Selling

In other Mobix Labs news, Director James J. Peterson sold 146,732 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.04, for a total value of $152,601.28. Following the completion of the transaction, the director now owns 2,115,574 shares in the company, valued at approximately $2,200,196.96. This represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 188,965 shares of company stock valued at $198,618 in the last quarter. Company insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Mobix Labs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC bought a new stake in Mobix Labs during the 4th quarter valued at $104,000. Jane Street Group LLC acquired a new position in shares of Mobix Labs during the fourth quarter valued at $93,000. Coppell Advisory Solutions LLC raised its stake in shares of 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 in the last quarter. Geode Capital Management LLC lifted its holdings in Mobix Labs by 17.5% in the fourth quarter. Geode Capital Management LLC now owns 236,906 shares of the company’s stock worth $403,000 after purchasing an additional 35,328 shares during the period. Finally, Ieq Capital LLC lifted 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. 8.56% of the stock is owned by institutional investors.

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.