CI&T Inc. (NYSE:CINT) Sees Significant Drop in Short Interest

CI&T Inc. (NYSE:CINT) was the recipient of a significant decline in short interest in 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. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 86,471 shares, the days-to-cover ratio is currently 0.5 days.

CI&T Trading Down 0.9%

Shares of CINT stock opened at $3.20 on Tuesday. The firm’s fifty day simple moving average is $3.41 and its 200 day simple moving average is $3.99. The firm has a market capitalization of $430.79 million, a P/E ratio of 11.04 and a beta of 0.81. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.15. CI&T has a 1 year low of $2.80 and a 1 year high of $5.88.

CI&T (NYSE:CINT) last issued 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). CI&T had a net margin of 6.79% and a return on equity of 11.69%. The firm had revenue of $142.82 million for the quarter, compared to the consensus estimate of $140.05 million. As a group, sell-side analysts predict that CI&T will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CINT shares. TD Cowen lowered their price objective on CI&T from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. 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 report on Wednesday, August 12th. Weiss Ratings downgraded CI&T from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 29th. UBS Group dropped their target price on CI&T from $7.20 to $6.20 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Finally, Zacks Research lowered shares of CI&T from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, CI&T presently has an average rating of “Hold” and an average price target of $6.08.

Institutional Investors Weigh In On CI&T

A number of institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new stake in CI&T in the second quarter valued at approximately $43,000. Beacon Hill Wealth Management LTD. bought a new position in shares of CI&T during the second quarter worth $617,000. AXQ Capital LP bought a new position in shares of CI&T during the second quarter worth $74,000. Wedbush Securities Inc. grew its holdings in shares of CI&T by 118.1% in the 2nd quarter. Wedbush Securities Inc. now owns 41,600 shares of the company’s stock valued at $139,000 after buying an additional 22,525 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in shares of CI&T in the 1st quarter valued at $181,000. 92.45% of the stock is owned by institutional investors and hedge funds.

About CI&T

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.