StoneCo Ltd (STNE) Short Interest Up 12.4% in February
StoneCo Ltd (NASDAQ:STNE) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 12,449,804 shares, an increase of 12.4% from the February 15th total of 11,074,184 shares. Approximately 14.2% of the shares of the company are sold short. Based on an average trading volume of 2,426,841 shares, the days-to-cover ratio is currently 5.1 days.
Several institutional investors and hedge funds have recently made changes to their positions in STNE. Foxhaven Asset Management LP bought a new position in shares of StoneCo during the fourth quarter worth approximately $24,360,000. Norges Bank bought a new position in shares of StoneCo during the fourth quarter worth approximately $16,539,000. Apoletto Ltd bought a new position in shares of StoneCo during the fourth quarter worth approximately $12,727,000. Pelham Global Financials Ltd. bought a new position in shares of StoneCo during the fourth quarter worth approximately $12,154,000. Finally, BlackRock Inc. bought a new position in shares of StoneCo during the fourth quarter worth approximately $11,810,000. 32.94% of the stock is currently owned by institutional investors.
Shares of STNE opened at $30.34 on Friday. StoneCo has a 12 month low of $16.14 and a 12 month high of $34.50.
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StoneCo Company Profile
StoneCo Ltd. provides financial technology solutions that empower merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and technology and solutions to digital merchants through sales and technical personnel and software vendors.
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