CI&T Inc. (NYSE:CINT) Short Interest Down 11.5% in August

CI&T Inc. (NYSE:CINT) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 307,100 shares, a decline of 11.5% from the August 15th total of 347,100 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily trading volume, of 89,400 shares, the short-interest ratio is currently 3.4 days.

Analysts Set New Price Targets

CINT has been the topic of several recent analyst reports. Citigroup boosted 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. Itau BBA Securities upgraded shares of CI&T from a “market perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a report on Friday, August 16th. Canaccord Genuity Group upgraded shares of CI&T from a “hold” rating to a “buy” rating and boosted their target price for the company from $5.00 to $6.00 in a report on Thursday, May 23rd. The Goldman Sachs Group initiated coverage on shares of CI&T in a report on Wednesday, September 4th. They issued a “neutral” rating and a $7.30 target price on the stock. Finally, Wedbush initiated coverage on shares of CI&T in a report on Friday, May 24th. They set an “outperform” rating and a $5.00 price objective on the stock. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

CI&T Stock Down 2.5 %

Shares of NYSE CINT traded down $0.17 during trading on Wednesday, hitting $6.63. 36,760 shares of the company traded hands, compared to its average volume of 102,324. The business’s fifty day moving average is $6.46 and its 200 day moving average is $5.10. CI&T has a fifty-two week low of $3.34 and a fifty-two week high of $8.04. The firm has a market capitalization of $891.15 million, a price-to-earnings ratio of 36.83 and a beta of 1.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.80 and a current ratio of 1.80.

CI&T (NYSE:CINT) last posted its earnings results on Friday, August 16th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $100.45 million for 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%. Equities research analysts predict that CI&T will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CI&T

Several hedge funds and other institutional investors have recently made changes to their positions in CINT. BW Gestao de Investimentos Ltda. increased 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 acquiring an additional 1,073,302 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of CI&T during the second quarter worth about $2,264,000. Marshall Wace LLP increased 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 acquiring an additional 65,457 shares in the last quarter. WCM Investment Management LLC increased its position in shares of CI&T by 4.4% during the first quarter. WCM Investment Management LLC now owns 1,385,113 shares of the company’s stock worth $5,721,000 after acquiring an additional 58,489 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of CI&T during the second quarter worth about $76,000. 92.45% of the stock is owned by institutional investors.

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.