indie Semiconductor (NASDAQ:INDI) Sees Unusually-High Trading Volume – Should You Buy?

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) saw strong trading volume on Wednesday . 4,350,748 shares changed hands during trading, an increase of 44% from the previous session’s volume of 3,017,380 shares.The stock last traded at $3.91 and had previously closed at $4.03.

Analyst Ratings Changes

Several equities research analysts recently issued reports on INDI shares. Benchmark cut their price target on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $8.92.

indie Semiconductor Stock Down 6.5 %

The stock has a 50 day moving average price of $4.07 and a 200 day moving average price of $5.01. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $761.24 million, a price-to-earnings ratio of -5.63 and a beta of 1.37.

Insider Buying and Selling at indie Semiconductor

In other news, CEO Donald Mcclymont sold 200,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 18,351 shares in the company, valued at approximately $86,433.21. The trade was a 91.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in indie Semiconductor by 1,743.8% in the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after purchasing an additional 3,906 shares in the last quarter. Wealth Effects LLC increased its stake in indie Semiconductor by 2.8% in the second quarter. Wealth Effects LLC now owns 170,700 shares of the company’s stock valued at $1,053,000 after purchasing an additional 4,600 shares in the last quarter. Register Financial Advisors LLC raised its holdings in shares of indie Semiconductor by 3.7% during the second quarter. Register Financial Advisors LLC now owns 138,440 shares of the company’s stock valued at $854,000 after purchasing an additional 5,000 shares during the period. Tempus Wealth Planning LLC boosted its position in shares of indie Semiconductor by 30.6% during the 2nd quarter. Tempus Wealth Planning LLC now owns 22,353 shares of the company’s stock worth $138,000 after purchasing an additional 5,238 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of indie Semiconductor by 14.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,108 shares of the company’s stock valued at $306,000 after buying an additional 5,394 shares during the period. 67.73% of the stock is owned by institutional investors.

indie Semiconductor Company Profile

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.