indie Semiconductor (NASDAQ:INDI) Shares Down 4.5% – Should You Sell?

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price was down 4.5% during trading on Monday . The company traded as low as $4.22 and last traded at $4.23. Approximately 665,140 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 3,240,456 shares. The stock had previously closed at $4.43.

Wall Street Analyst Weigh In

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

indie Semiconductor Stock Down 1.6 %

The firm has a 50-day moving average of $4.12 and a two-hundred day moving average of $4.89. The firm has a market cap of $880.37 million, a price-to-earnings ratio of -6.61 and a beta of 1.37. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

Insider Transactions at indie Semiconductor

In other news, CEO Donald Mcclymont sold 200,000 shares of the company’s stock in a transaction dated 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 owns 18,351 shares of the company’s stock, valued at approximately $86,433.21. This represents a 91.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. 272 Capital LP acquired a new stake in shares of indie Semiconductor in the 3rd quarter valued at $511,000. American Trust boosted its position in indie Semiconductor by 28.2% in the 3rd quarter. American Trust now owns 28,976 shares of the company’s stock valued at $116,000 after buying an additional 6,375 shares during the last quarter. Virtu Financial LLC acquired a new stake in indie Semiconductor in the third quarter worth about $58,000. Barclays PLC grew its position in shares of indie Semiconductor by 330.7% during the 3rd quarter. Barclays PLC now owns 256,799 shares of the company’s stock worth $1,026,000 after buying an additional 197,179 shares during the period. Finally, Meros Investment Management LP increased its holdings in indie Semiconductor by 5.4% in the third quarter. Meros Investment Management LP now owns 865,325 shares of the company’s stock valued at $3,453,000 after purchasing an additional 44,096 shares during the last quarter. 67.73% of the stock is owned by 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.