Mobix Labs (NASDAQ:MOBX) Releases Earnings Results

Mobix Labs (NASDAQ:MOBX) posted its quarterly earnings results on Monday. The company reported ($1.33) earnings per share for the quarter, Zacks reports. Mobix Labs had a negative return on equity of 1,175.77% and a negative net margin of 361.77%.

Mobix Labs Trading Down 13.5%

MOBX opened at $1.09 on Wednesday. The stock has a market capitalization of $14.65 million, a PE ratio of -0.16 and a beta of -0.72. Mobix Labs has a one year low of $1.03 and a one year high of $14.40. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.17 and a current ratio of 0.23. The business’s 50 day moving average price is $1.88 and its 200 day moving average price is $2.73.

Insider Activity at Mobix Labs

In other news, CFO Keyvan Samini sold 112,110 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $1.98, for a total transaction of $221,977.80. Following the completion of the transaction, the chief financial officer directly owned 155,053 shares in the company, valued at approximately $307,004.94. This represents a 41.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MOBX. Focus Partners Wealth increased its position in shares of Mobix Labs by 64.3% during the first quarter. Focus Partners Wealth now owns 1,642,857 shares of the company’s stock valued at $1,467,000 after acquiring an additional 642,857 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Mobix Labs by 47.4% in the 2nd quarter. XTX Topco Ltd now owns 38,671 shares of the company’s stock worth $30,000 after acquiring an additional 12,443 shares during the last quarter. Armistice Capital LLC acquired a new position in shares of Mobix Labs in the 2nd quarter worth approximately $3,272,000. Geode Capital Management LLC boosted its position in shares of Mobix Labs by 17.3% during the 4th quarter. Geode Capital Management LLC now owns 426,198 shares of the company’s stock worth $114,000 after purchasing an additional 62,715 shares during the period. Finally, Mariner LLC boosted its position in shares of Mobix Labs by 103.5% during the 4th quarter. Mariner LLC now owns 135,453 shares of the company’s stock worth $36,000 after purchasing an additional 68,879 shares during the period. Institutional investors and hedge funds own 8.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mobix Labs in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Mobix Labs has an average rating of “Sell”.

About Mobix Labs

Mobix Labs, Inc (NASDAQ: MOBX) is a technology company specializing in device intelligence software and services for the mobile device lifecycle. The company’s core platform enables real-time testing, authentication and diagnostic verification of smartphones and other connected devices. By combining automated testing tools with data analytics, Mobix Labs helps carriers, retailers, original equipment manufacturers (OEMs) and repair centers streamline operations and reduce return rates, fraud and waste.

Mobix Labs offers a suite of products designed to support the full spectrum of device management.