CI&T Inc. (NYSE:CINT) Short Interest Down 13.2% in October

CI&T Inc. (NYSE:CINT) was the target of a large drop in short interest in October. As of October 15th, there was short interest totalling 157,500 shares, a drop of 13.2% from the September 30th total of 181,500 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 73,300 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Trading of CI&T

Several institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP lifted its position in shares of CI&T by 245.6% during the second quarter. Marshall Wace LLP now owns 92,114 shares of the company’s stock worth $479,000 after purchasing an additional 65,457 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of CI&T during the second quarter worth $2,264,000. XTX Topco Ltd bought a new stake in shares of CI&T during the second quarter worth $76,000. BW Gestao de Investimentos Ltda. lifted its position in shares of CI&T by 101.1% during the second quarter. BW Gestao de Investimentos Ltda. now owns 2,134,514 shares of the company’s stock worth $11,099,000 after purchasing an additional 1,073,302 shares during the last quarter. Finally, Banco BTG Pactual S.A. increased its stake in shares of CI&T by 23.0% during the first quarter. Banco BTG Pactual S.A. now owns 53,467 shares of the company’s stock valued at $221,000 after buying an additional 10,000 shares during the period. 92.45% of the stock is currently owned by institutional investors.

CI&T Trading Down 1.6 %

CINT traded down $0.11 during trading on Tuesday, reaching $6.79. The company had a trading volume of 71,270 shares, compared to its average volume of 96,089. The stock has a market cap of $912.66 million, a P/E ratio of 38.39 and a beta of 1.15. The business has a 50 day simple moving average of $6.95 and a 200-day simple moving average of $5.64. CI&T has a 52 week low of $3.34 and a 52 week high of $8.04. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.45.

CI&T (NYSE:CINT) last issued its quarterly earnings results on Friday, August 16th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $100.45 million during the quarter, compared to the consensus estimate of $104.75 million. CI&T had a return on equity of 10.93% and a net margin of 4.97%. On average, equities analysts anticipate that CI&T will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CINT shares. JPMorgan Chase & Co. increased their price objective on shares of CI&T from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Friday, September 6th. The Goldman Sachs Group assumed coverage on shares of CI&T in a report on Wednesday, September 4th. They issued a “neutral” rating and a $7.30 target price for the company. Itau BBA Securities raised shares of CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 target price for the company in a report on Friday, August 16th. Citigroup raised their target price on shares of CI&T from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Finally, Canaccord Genuity Group raised their target price on shares of CI&T from $6.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

About CI&T

CI&T Inc, together with its subsidiaries, provides strategy, design, and software engineering services to enable digital transformation for enterprises and companies worldwide. It is also involved in the development of customizable software through the implementation of software solutions, including machine learning, artificial intelligence, analytics, cloud migration, and mobility technologies.