AGI Inc (NYSE:AGBK) Short Interest Update

Key Points

• AGI’s short interest fell 37% to 962,739 shares as of August 14, down from 1.53 million shares on July 30. Short interest now represents 0.6% of shares outstanding, with a days-to-cover ratio of 2.2.
• AGI shares opened at $6.18, near their one-year low of $5.91 and below the 50-day moving average of $6.72. The company has a market capitalization of approximately $988 million and a P/E ratio of 10.47.
• Analyst sentiment is mixed, with six Buy, one Hold, and two Sell ratings; the consensus rating is Hold and the average price target is $14.14. Recent actions included an Oppenheimer target reduction to $9 and downgrades from Zacks Research and Itau BBA Securities.

AGI Inc (NYSE:AGBK - Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 962,739 shares, a decrease of 37.0% from the July 30th total of 1,529,138 shares. Based on an average trading volume of 431,871 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.6% of the company's stock are sold short.

AGI Price Performance

AGI stock opened at $6.18 on Monday. AGI has a one year low of $5.91 and a one year high of $12.21. The stock's fifty day simple moving average is $6.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market capitalization of $988.37 million and a P/E ratio of 10.47.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings restated a "sell (d)" rating on shares of AGI in a research note on Friday, August 7th. Oppenheimer lowered their price target on AGI from $10.00 to $9.00 and set an "outperform" rating for the company in a research note on Friday, August 7th. Zacks Research downgraded AGI from a "hold" rating to a "strong sell" rating in a report on Thursday, July 16th. The Goldman Sachs Group set a $13.00 price objective on shares of AGI in a research report on Thursday, August 6th. Finally, Itau BBA Securities cut shares of AGI from an "outperform" rating to a "market perform" rating and set a $9.00 target price for the company. in a research note on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $14.14.

About AGI

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil's population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.

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