CI&T Inc. (NYSE:CINT) Short Interest Update

Key Points

• Short interest fell 61% to 18,191 shares as of September 15, representing approximately 0.0% of CI&T’s outstanding stock and just 0.2 days to cover.
• Institutional investors and hedge funds own 92.45% of CI&T, with several firms initiating or increasing positions during the first and second quarters.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $6.08, although recent target cuts weigh on sentiment. Shares opened at $2.98, and the company’s latest quarterly earnings of $0.07 per share missed estimates despite revenue exceeding forecasts.

CI&T Inc. (NYSE:CINT - Get Free Report) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 18,191 shares, a decline of 61.0% from the August 31st total of 46,602 shares. Approximately 0.0% of the company's stock are sold short. Based on an average trading volume of 118,298 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of CI&T

Hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in CI&T in the 2nd quarter valued at $43,000. Janney Montgomery Scott LLC bought a new position in CI&T during the 1st quarter worth $60,000. AXQ Capital LP bought a new position in CI&T during the 2nd quarter worth $74,000. Wedbush Securities Inc. lifted its holdings in shares of CI&T by 118.1% during the second quarter. Wedbush Securities Inc. now owns 41,600 shares of the company's stock worth $139,000 after buying an additional 22,525 shares in the last quarter. Finally, R Squared Ltd lifted its holdings in shares of CI&T by 24.1% during the first quarter. R Squared Ltd now owns 34,521 shares of the company's stock worth $175,000 after buying an additional 6,707 shares in the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CINT shares. Weiss Ratings lowered shares of CI&T from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, June 29th. UBS Group cut their price objective on CI&T from $7.20 to $6.20 and set a "buy" rating for the company in a research report on Wednesday, August 12th. Zacks Research upgraded CI&T from a "strong sell" rating to a "hold" rating in a research note on Monday, September 21st. JPMorgan Chase & Co. decreased their target price on CI&T from $6.00 to $5.00 and set an "overweight" rating on the stock in a report on Wednesday, August 12th. Finally, Wedbush cut CI&T from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $7.00 to $4.00 in a research note on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $6.08.

CI&T Stock Performance

Shares of CINT stock opened at $2.98 on Friday. CI&T has a 52 week low of $2.80 and a 52 week high of $5.80. The company has a market capitalization of $401.05 million, a price-to-earnings ratio of 10.28 and a beta of 0.81. The company has a 50-day simple moving average of $3.37 and a 200 day simple moving average of $3.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.31 and a current ratio of 1.31.

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

CI&T Company Profile

CI&T, Inc is a global technology and digital transformation company that helps organizations develop, modernize and operate digital products and business systems. Its services include digital strategy, user experience and product design, software engineering, cloud technology, data and artificial intelligence, and the modernization of legacy applications.

The company works with businesses across industries such as financial services, consumer goods, healthcare, manufacturing and technology.

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