Why Indie Semiconductor Shares Are Rising

Indie Semiconductor Inc INDI shares are trading higher by 29.26% at $6.98 after the company reported better-than-expected first-quarter EPS and sales results.

Indie Semiconductor reported quarterly losses of 11 cents per share which beat the analyst consensus estimate of a loss of 12 cents. The company reported quarterly sales of $22.00 million which beat the analyst consensus estimate of $21.57 million by 2%.

Indie Semiconductor received a number of analyst rating updates following the earnings report.

See Also: 3 Implications From Elon Musk Putting Twitter Deal On Hold

Indie Semiconductor provides next-generation automotive semiconductors and software platforms

According to data from Benzinga Pro, Indie Semiconductor has a 52-week high of $16.33 and a 52-week low of $5.07.