Inter & Co, Inc. (NASDAQ:INTR) Shares Gap Down – Here’s Why

Inter & Co, Inc. (NASDAQ:INTR)’s share price gapped down prior to trading on Friday . The stock had previously closed at $5.28, but opened at $4.41. Inter & Co, Inc. shares last traded at $4.43, with a volume of 944,077 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on INTR shares. UBS Group lifted their price target on Inter & Co, Inc. from $6.50 to $8.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upgraded Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $7.50 to $8.50 in a research report on Wednesday, October 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $7.56.

Inter & Co, Inc. Trading Down 12.5 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50-day moving average price is $6.26 and its two-hundred day moving average price is $6.50. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 13.20 and a beta of 1.52.

Hedge Funds Weigh In On Inter & Co, Inc.

A number of hedge funds have recently added to or reduced their stakes in INTR. Geode Capital Management LLC lifted its position in shares of Inter & Co, Inc. by 436.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,672,833 shares of the company’s stock valued at $11,060,000 after acquiring an additional 1,361,258 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Inter & Co, Inc. during the third quarter worth about $103,000. Nomura Asset Management Co. Ltd. bought a new stake in Inter & Co, Inc. during the third quarter worth about $180,000. State Street Corp grew its stake in Inter & Co, Inc. by 254.0% during the third quarter. State Street Corp now owns 3,339,841 shares of the company’s stock worth $22,243,000 after buying an additional 2,396,448 shares in the last quarter. Finally, Atom Investors LP bought a new position in Inter & Co, Inc. in the 3rd quarter valued at about $71,000. Institutional investors own 22.90% of the company’s stock.

Inter & Co, Inc. Company Profile

Inter & Co, Inc, through its subsidiaries, engages in the banking and spending, investments, insurance brokerage businesses. The company's Banking & Spending segment offers banking products and services, including checking accounts, cards, deposits, loans and advances, and other services.