Nvni Group Limited (NASDAQ:NVNI) Short Interest Update

Nvni Group Limited (NASDAQ:NVNI) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 975,790 shares, an increase of 447.8% from the May 31st total of 178,128 shares. Based on an average trading volume of 2,331,218 shares, the days-to-cover ratio is presently 0.4 days. Currently, 12.2% of the shares of the stock are sold short.

Nvni Group Price Performance

NVNI stock traded down $0.01 during midday trading on Friday, hitting $0.95. The stock had a trading volume of 33,748 shares, compared to its average volume of 1,398,322. The firm has a market cap of $9.54 million, a PE ratio of 2.38 and a beta of -0.10. Nvni Group has a 12-month low of $0.77 and a 12-month high of $16.40. The company’s 50-day moving average price is $1.13 and its 200 day moving average price is $1.69.

Nvni Group (NASDAQ:NVNI) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.67). The business had revenue of $8.80 million during the quarter, compared to the consensus estimate of $15.73 million.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Nvni Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Nvni Group presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Nvni Group

Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new stake in Nvni Group in the 2nd quarter valued at about $40,000. Turim 21 Investimentos Ltda. lifted its holdings in shares of Nvni Group by 50.9% during the 3rd quarter. Turim 21 Investimentos Ltda. now owns 55,870 shares of the company’s stock worth $46,000 after acquiring an additional 18,847 shares during the period. Finally, Narus Financial Partners LLC lifted its holdings in shares of Nvni Group by 71.8% during the 3rd quarter. Narus Financial Partners LLC now owns 35,400 shares of the company’s stock worth $29,000 after acquiring an additional 14,800 shares during the period. 0.49% of the stock is currently owned by hedge funds and other institutional investors.

Nvni Group Company Profile

Nvni Group Limited provides a business to business SaaS platform that offers cloud solutions. The company was incorporated in 2019 and is based in São Paulo, Brazil.