Valens Semiconductor Ltd. (NYSE:VLN) Sees Significant Decline in Short Interest

Valens Semiconductor Ltd. (NYSE:VLN) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 239,200 shares, a decrease of 24.6% from the January 15th total of 317,100 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 683,500 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Valens Semiconductor

A number of institutional investors have recently added to or reduced their stakes in VLN. Value Base Ltd. purchased a new stake in Valens Semiconductor during the 4th quarter worth about $53,672,000. IGP Investments G.P.L.P LP purchased a new stake in Valens Semiconductor during the 4th quarter worth about $8,996,000. ARK Investment Management LLC purchased a new stake in Valens Semiconductor during the 3rd quarter worth about $1,362,000. Renaissance Technologies LLC lifted its holdings in Valens Semiconductor by 41.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,001,930 shares of the company’s stock worth $2,605,000 after purchasing an additional 293,230 shares in the last quarter. Finally, Walleye Capital LLC lifted its holdings in Valens Semiconductor by 86.3% during the 4th quarter. Walleye Capital LLC now owns 322,993 shares of the company’s stock worth $840,000 after purchasing an additional 149,642 shares in the last quarter. Hedge funds and other institutional investors own 33.90% of the company’s stock.

Valens Semiconductor Stock Up 7.3 %

Shares of NYSE VLN traded up $0.19 during trading on Friday, reaching $2.71. 1,417,948 shares of the stock traded hands, compared to its average volume of 581,599. Valens Semiconductor has a 52-week low of $1.67 and a 52-week high of $3.50. The company has a 50-day moving average of $2.58 and a 200-day moving average of $2.24.

Analysts Set New Price Targets

Separately, ThinkEquity upgraded Valens Semiconductor to a “strong-buy” rating in a research note on Monday, December 2nd.

About Valens Semiconductor

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.