Valens Semiconductor Ltd. (NYSE:VLN) Sees Large Drop in Short Interest

Valens Semiconductor Ltd. (NYSE:VLN) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 197,200 shares, a drop of 21.4% from the June 30th total of 251,000 shares. Based on an average daily trading volume, of 327,200 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.3% of the company’s shares are short sold.

Institutional Trading of Valens Semiconductor

Hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. lifted its position in shares of Valens Semiconductor by 14.6% in the first quarter. Oppenheimer & Co. Inc. now owns 154,795 shares of the company’s stock worth $364,000 after purchasing an additional 19,727 shares in the last quarter. AI Squared Management Ltd bought a new position in Valens Semiconductor during the fourth quarter valued at approximately $2,044,000. Finally, IGP Investments G.P.L.P LP bought a new position in Valens Semiconductor during the fourth quarter valued at approximately $8,550,000. 33.90% of the stock is owned by hedge funds and other institutional investors.

Valens Semiconductor Stock Performance

Shares of VLN traded down $0.13 during midday trading on Friday, hitting $2.28. The stock had a trading volume of 132,344 shares, compared to its average volume of 219,936. Valens Semiconductor has a fifty-two week low of $1.91 and a fifty-two week high of $3.39. The business has a 50-day simple moving average of $2.90 and a two-hundred day simple moving average of $2.52.

Valens Semiconductor (NYSE:VLN) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The company had revenue of $11.56 million during the quarter, compared to analysts’ expectations of $11.10 million. Valens Semiconductor had a negative return on equity of 14.14% and a negative net margin of 33.86%. On average, equities research analysts expect that Valens Semiconductor will post -0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Chardan Capital reiterated a “buy” rating and issued a $4.00 target price on shares of Valens Semiconductor in a report on Thursday, May 9th.

Valens Semiconductor Company Profile

Valens Semiconductor Ltd. engages in the provision of semiconductor products for the audio-video and automotive industries. The company offers HDBaseT technology, which enables the simultaneous delivery of ultra-high-definition digital video and audio, Ethernet, USB, control signals, and power through a single long-reach cable.