CI&T Inc. (NYSE:CINT) Sees Large Decline in Short Interest

Key Points

• CI&T’s short interest fell 64.9% to 46,602 shares as of August 31, representing about 0.0% of shares outstanding and a short-interest ratio of 0.5 days.
• Analyst views remain mixed: the consensus rating is “Hold” with an average price target of $6.08, although several firms recently lowered their targets while maintaining Buy or Overweight ratings.
• Shares traded at $3.25, near the lower end of their 52-week range, after CI&T reported quarterly EPS of $0.07—below expectations—despite revenue of $142.82 million exceeding estimates. Institutional investors own 92.45% of the stock.

CI&T Inc. (NYSE:CINT - Get Free Report) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 46,602 shares, a decline of 64.9% from the August 15th total of 132,785 shares. Based on an average daily volume of 86,471 shares, the short-interest ratio is presently 0.5 days. Approximately 0.0% of the shares of the company are short sold.

Analyst Ratings Changes

CINT has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on CI&T from $6.00 to $5.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 12th. Wall Street Zen cut CI&T from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. UBS Group lowered their price objective on shares of CI&T from $7.20 to $6.20 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Zacks Research lowered shares of CI&T from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Finally, TD Cowen cut their target price on shares of CI&T from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $6.08.

CI&T Price Performance

Shares of CINT traded up $0.20 during trading hours on Friday, hitting $3.25. The stock had a trading volume of 59,915 shares, compared to its average volume of 103,704. The company's fifty day moving average is $3.42 and its two-hundred day moving average is $4.01. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.31. CI&T has a 52 week low of $2.80 and a 52 week high of $5.88. The stock has a market capitalization of $437.12 million, a price-to-earnings ratio of 11.20 and a beta of 0.81.

CI&T (NYSE:CINT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $142.82 million for the quarter, compared to the consensus estimate of $140.05 million. CI&T had a net margin of 6.79% and a return on equity of 11.69%. On average, analysts anticipate that CI&T will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. GMT Capital Corp bought a new stake in CI&T during the 4th quarter worth about $1,786,000. Royce & Associates LP raised its stake in shares of CI&T by 69.7% in the fourth quarter. Royce & Associates LP now owns 888,221 shares of the company's stock worth $3,615,000 after acquiring an additional 364,696 shares during the last quarter. BW Gestao de Investimentos Ltda. lifted its position in shares of CI&T by 9.2% during the second quarter. BW Gestao de Investimentos Ltda. now owns 2,882,650 shares of the company's stock worth $17,209,000 after purchasing an additional 242,811 shares in the last quarter. Beacon Hill Wealth Management LTD. acquired a new position in shares of CI&T during the second quarter worth approximately $617,000. Finally, Marshall Wace LLP grew its stake in shares of CI&T by 90.4% during the second quarter. Marshall Wace LLP now owns 380,818 shares of the company's stock valued at $2,273,000 after purchasing an additional 180,800 shares during the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

CI&T Company Profile

CI&T Inc NYSE: CINT is a global digital solutions and technology services provider specializing in end-to-end digital transformation. The company partners with clients across industries such as financial services, retail, healthcare and technology to deliver tailored software products, agile development practices and customer-centric design. Its core offerings include digital strategy consulting, user experience and interface design, cloud-native application development, data engineering and full-cycle product lifecycle management.

Leveraging a proprietary agile framework, CI&T helps organizations accelerate time-to-market and improve operational efficiency through continuous delivery and DevOps automation.

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