Mobix Labs (NASDAQ:MOBX) Posts Quarterly Earnings Results

Mobix Labs (NASDAQ:MOBX) issued its quarterly earnings results on Monday. The company reported ($0.29) EPS for the quarter, Zacks reports. Mobix Labs had a negative net margin of 381.82% and a negative return on equity of 5,149.05%. The firm had revenue of $5.86 million during the quarter.

Mobix Labs Stock Performance

Shares of MOBX stock opened at $0.24 on Wednesday. Mobix Labs has a fifty-two week low of $0.17 and a fifty-two week high of $1.67. The stock’s 50-day moving average is $0.45 and its two-hundred day moving average is $0.74. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.14 and a quick ratio of 0.09. The firm has a market cap of $14.55 million, a P/E ratio of -0.22 and a beta of -0.08.

Insider Activity at Mobix Labs

In related news, CFO Keyvan Samini sold 211,672 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $0.32, for a total value of $67,735.04. Following the transaction, the chief financial officer owned 2,671,661 shares in the company, valued at approximately $854,931.52. This represents a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 32.03% of the company’s stock.

Institutional Trading of Mobix Labs

Large investors have recently added to or reduced their stakes in the business. Armistice Capital LLC increased its stake in shares of Mobix Labs by 7.5% during the 3rd quarter. Armistice Capital LLC now owns 4,596,804 shares of the company’s stock worth $3,705,000 after purchasing an additional 320,804 shares during the last quarter. Focus Partners Wealth increased its position in Mobix Labs by 64.3% during the first quarter. Focus Partners Wealth now owns 1,642,857 shares of the company’s stock worth $1,467,000 after buying an additional 642,857 shares during the last quarter. Finally, XTX Topco Ltd increased its position in Mobix Labs by 47.4% during the second quarter. XTX Topco Ltd now owns 38,671 shares of the company’s stock worth $30,000 after buying an additional 12,443 shares during the last quarter. 8.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mobix Labs in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Mobix Labs Company Profile

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.