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

CI&T Inc. (NYSE:CINTGet Free Report) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 373,000 shares, a growth of 13.5% from the May 15th total of 328,500 shares. Approximately 1.8% of the company’s shares are short sold. Based on an average daily volume of 122,200 shares, the short-interest ratio is presently 3.1 days.

Hedge Funds Weigh In On CI&T

Several hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its stake in CI&T by 4.6% in the fourth quarter. Russell Investments Group Ltd. now owns 160,083 shares of the company’s stock valued at $842,000 after purchasing an additional 7,047 shares during the last quarter. Banco BTG Pactual S.A. boosted its holdings in shares of CI&T by 23.0% in the first quarter. Banco BTG Pactual S.A. now owns 53,467 shares of the company’s stock valued at $221,000 after acquiring an additional 10,000 shares during the period. WCM Investment Management LLC boosted its holdings in shares of CI&T by 4.4% in the first quarter. WCM Investment Management LLC now owns 1,385,113 shares of the company’s stock valued at $5,721,000 after acquiring an additional 58,489 shares during the period. Finally, BW Gestao de Investimentos Ltda. boosted its holdings in shares of CI&T by 168.7% in the first quarter. BW Gestao de Investimentos Ltda. now owns 1,061,212 shares of the company’s stock valued at $4,383,000 after acquiring an additional 666,212 shares during the period. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CINT shares. UBS Group started coverage on shares of CI&T in a research note on Tuesday, May 14th. They set a “neutral” rating and a $4.20 price target on the stock. Canaccord Genuity Group upgraded shares of CI&T from a “hold” rating to a “buy” rating and boosted their price target for the stock from $5.00 to $6.00 in a research note on Thursday, May 23rd. Wedbush began coverage on shares of CI&T in a research note on Friday, May 24th. They set an “outperform” rating and a $5.00 target price on the stock. Citigroup cut their target price on shares of CI&T from $4.50 to $4.25 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Finally, Canaccord Genuity Group upgraded shares of CI&T from a “hold” rating to a “buy” rating and upped their target price for the stock from $5.00 to $6.00 in a research note on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.37.

Check Out Our Latest Stock Analysis on CI&T

CI&T Stock Up 1.4 %

CI&T stock traded up $0.07 during mid-day trading on Tuesday, hitting $4.94. The company had a trading volume of 6,418 shares, compared to its average volume of 110,669. The stock has a market cap of $663.99 million, a price-to-earnings ratio of 27.11 and a beta of 1.09. CI&T has a 1 year low of $3.34 and a 1 year high of $7.20. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $4.15 and a 200 day moving average of $4.48.

CI&T (NYSE:CINTGet Free Report) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported $0.06 EPS for the quarter. The company had revenue of $105.74 million for the quarter, compared to analyst estimates of $103.88 million. CI&T had a net margin of 6.03% and a return on equity of 14.03%. On average, sell-side analysts expect that CI&T will post 0.27 earnings per share for the current fiscal year.

About CI&T

(Get Free Report)

CI&T Inc, together with its subsidiaries, provides strategy, design, and software engineering services to enable digital transformation for enterprises and companies worldwide. It is also involved in the development of customizable software through the implementation of software solutions, including machine learning, artificial intelligence, analytics, cloud migration, and mobility technologies.

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