Nvni Group Limited (NASDAQ:NVNI) Sees Large Increase in Short Interest

Key Points

• Nvni Group Limited experienced a significant increase in short interest, with a rise of 165.4% in July, bringing total short interest to 5,760,000 shares, representing 40.6% of the company's stock.
• The company's stock has recently traded down by 7.2%, dropping to $0.57, while its 52-week trading range is between $0.14 and $12.19.
• Institutional investors have been active, with notable purchases including Heights Capital Management and Anson Funds Management, indicating growing interest in Nvni Group's potential.

Nvni Group Limited (NASDAQ:NVNI - Get Free Report) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totaling 5,760,000 shares, anincreaseof165.4% from the July 15th total of 2,170,000 shares. Currently,40.6% of the company's stock are short sold. Based on an average trading volume of 9,120,000 shares, the days-to-cover ratio is currently 0.6 days. Based on an average trading volume of 9,120,000 shares, the days-to-cover ratio is currently 0.6 days. Currently,40.6% of the company's stock are short sold.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Nvni Group to a "hold" rating in a report on Saturday, August 2nd.

Nvni Group Trading Down 7.2%

Nvni Group stock traded down $0.04 during trading on Friday, hitting $0.57. 2,823,943 shares of the company were exchanged, compared to its average volume of 17,312,888. The business's 50 day moving average is $0.42 and its 200 day moving average is $0.88. Nvni Group has a 52 week low of $0.14 and a 52 week high of $12.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Nvni Group by 25.4% during the 4th quarter. Geode Capital Management LLC now owns 15,365 shares of the company's stock valued at $38,000 after buying an additional 3,113 shares during the last quarter. Heights Capital Management Inc. purchased a new position in shares of Nvni Group during the 4th quarter valued at $1,288,000. Two Sigma Securities LLC purchased a new position in shares of Nvni Group during the 4th quarter valued at $32,000. Jane Street Group LLC purchased a new position in shares of Nvni Group during the 4th quarter valued at $190,000. Finally, Anson Funds Management LP purchased a new position in shares of Nvni Group during the 4th quarter valued at $1,288,000. Hedge funds and other institutional investors own 0.49% of the company's stock.

About Nvni Group

Nvni Group Limited provides a business to business SaaS platform that offers cloud solutions. The company was incorporated in 2019 and is based in São Paulo, Brazil.

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