Thoughtworks Holding, Inc. (NASDAQ:TWKS) Short Interest Up 145.1% in October

Thoughtworks Holding, Inc. (NASDAQ:TWKS) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 8,700,000 shares, an increase of 145.1% from the September 30th total of 3,550,000 shares. Approximately 10.2% of the company’s shares are sold short. Based on an average daily trading volume, of 3,820,000 shares, the days-to-cover ratio is currently 2.3 days.

Wall Street Analysts Forecast Growth

TWKS has been the topic of several analyst reports. Baird R W downgraded shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Piper Sandler raised their price target on Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Citigroup dropped their price objective on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating for the company in a report on Friday, July 12th. Robert W. Baird reiterated a “neutral” rating and issued a $4.40 target price on shares of Thoughtworks in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Thoughtworks in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Thoughtworks currently has an average rating of “Hold” and an average target price of $4.18.

Thoughtworks Stock Up 0.2 %

Shares of TWKS traded up $0.01 during mid-day trading on Friday, hitting $4.45. The company’s stock had a trading volume of 3,745,053 shares, compared to its average volume of 1,737,750. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -12.36 and a beta of 1.15. The company’s 50-day moving average is $4.40 and its 200-day moving average is $3.45. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.39. Thoughtworks has a 52-week low of $2.19 and a 52-week high of $5.20.

Thoughtworks (NASDAQ:TWKS) last announced its earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $251.70 million for the quarter, compared to the consensus estimate of $251.37 million. Thoughtworks had a negative net margin of 11.20% and a negative return on equity of 5.81%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same period last year, the business posted ($0.01) EPS. On average, equities research analysts forecast that Thoughtworks will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Thoughtworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Thoughtworks by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 11,446,418 shares of the company’s stock worth $28,959,000 after buying an additional 112,782 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Thoughtworks by 0.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,017,364 shares of the company’s stock worth $28,449,000 after purchasing an additional 59,037 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Thoughtworks by 13,157.3% during the third quarter. SG Americas Securities LLC now owns 3,319,896 shares of the company’s stock worth $14,674,000 after purchasing an additional 3,294,854 shares in the last quarter. 272 Capital LP lifted its holdings in shares of Thoughtworks by 29.4% during the 2nd quarter. 272 Capital LP now owns 1,423,569 shares of the company’s stock valued at $4,043,000 after purchasing an additional 323,751 shares during the last quarter. Finally, Summit Creek Advisors LLC boosted its position in shares of Thoughtworks by 0.7% in the 1st quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock worth $3,379,000 after purchasing an additional 8,986 shares in the last quarter. Hedge funds and other institutional investors own 32.81% of the company’s stock.

Thoughtworks Company Profile

Thoughtworks Holding, Inc provides technology consultancy services in North America, the Asia Pacific, Europe, and Latin America. The company’s consultancy services integrate strategy, design, and software engineering to enable enterprises and technology disruptors to thrive as modern digital businesses.