Inter & Co. Inc. (NASDAQ:INTR) Stock Short Interest Report for October

Key Points

• Short interest surged 89.2% to 15.9 million shares as of October 15, representing 3.6% of Inter & Co.’s outstanding stock and 1.3 days to cover.
• Analyst sentiment remained mixed: UBS and JPMorgan raised their price targets and maintained positive ratings, while Zacks downgraded the stock to “strong sell.” The consensus rating was “Hold,” with an average target price of $9.30.
• INTR opened at $4.01, near its 52-week low of $3.92 and well below its 50- and 200-day moving averages. The company recently slightly exceeded quarterly EPS expectations but reported revenue below estimates.

Inter & Co. Inc. (NASDAQ:INTR - Get Free Report) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 15,906,625 shares, a growth of 89.2% from the September 30th total of 8,409,464 shares. Based on an average trading volume of 12,625,600 shares, the short-interest ratio is presently 1.3 days. Currently, 3.6% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

INTR has been the subject of several research reports. UBS Group raised their price target on shares of Inter & Co. Inc. from $8.80 to $10.00 and gave the stock a "buy" rating in a research note on Tuesday, October 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Inter & Co. Inc. in a research note on Tuesday, October 6th. Zacks Research lowered shares of Inter & Co. Inc. from a "hold" rating to a "strong sell" rating in a research report on Friday, October 9th. JPMorgan Chase & Co. upped their price target on shares of Inter & Co. Inc. from $9.00 to $11.00 and gave the stock an "overweight" rating in a report on Tuesday, October 6th. Finally, The Goldman Sachs Group set a $9.00 price target on shares of Inter & Co. Inc. in a research note on Thursday. Three 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 a consensus rating of "Hold" and an average target price of $9.30.

Hedge Funds Weigh In On Inter & Co. Inc.

Several hedge funds have recently modified their holdings of INTR. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Inter & Co. Inc. in the 3rd quarter worth approximately $26,000. Sage Investment Counsel LLC grew its stake in Inter & Co. Inc. by 66.7% in the 3rd quarter. Sage Investment Counsel LLC now owns 25,000 shares of the company's stock worth $134,000 after buying an additional 10,000 shares in the last quarter. Wedbush Securities Inc. bought a new position in shares of Inter & Co. Inc. in the 3rd quarter worth $179,000. Ramsey Quantitative Systems bought a new stake in shares of Inter & Co. Inc. during the 3rd quarter worth $91,000. Finally, Sanders Morris Harris LLC purchased a new position in Inter & Co. Inc. in the third quarter worth $82,000. Institutional investors own 22.90% of the company's stock.

Inter & Co. Inc. Trading Down 3.8%

INTR opened at $4.01 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.08. Inter & Co. Inc. has a 1-year low of $3.92 and a 1-year high of $10.36. The company has a fifty day moving average price of $5.84 and a two-hundred day moving average price of $6.80. The company has a market cap of $1.77 billion, a P/E ratio of 6.08, a price-to-earnings-growth ratio of 0.20 and a beta of 0.94.

Inter & Co. Inc. (NASDAQ:INTR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. Inter & Co. Inc. had a return on equity of 14.94% and a net margin of 11.23%. The company had revenue of $475.45 million for the quarter, compared to analyst estimates of $513.31 million. Analysts predict that Inter & Co. Inc. will post 0.76 EPS for the current fiscal year.

Inter & Co. Inc. Company Profile

Inter & Co Inc is a technology and financial services company that operates the Inter platform, a digital ecosystem serving consumers and businesses primarily in Brazil. Through its digital banking operations, the company offers products and services that may include checking and payment accounts, debit and credit cards, personal and business lending, investments, insurance, and foreign-exchange services.

Beyond banking, Inter's platform includes marketplace and shopping services, as well as travel-related offerings.

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