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

CI&T Inc. (NYSE:CINT) was the target of a large decline in short interest during 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 stock are short sold. Based on an average daily trading volume, of 86,471 shares, the days-to-cover ratio is currently 0.5 days.

Analysts Set New Price Targets

A number of brokerages have issued reports on CINT. JPMorgan Chase & Co. cut their target price on shares of CI&T from $6.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, August 12th. Wedbush lowered shares of CI&T from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $7.00 to $4.00 in a research report on Tuesday, July 21st. Zacks Research cut shares of CI&T from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Weiss Ratings downgraded CI&T from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, June 29th. Finally, UBS Group reduced their target price on CI&T from $7.20 to $6.20 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.08.

Institutional Trading of CI&T

A number of hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC acquired a new stake in shares of CI&T in the second quarter worth approximately $43,000. Janney Montgomery Scott LLC acquired a new position in CI&T during the first quarter worth approximately $60,000. AXQ Capital LP purchased a new position in CI&T during the second quarter worth approximately $74,000. Wedbush Securities Inc. boosted 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 purchasing an additional 22,525 shares during the last quarter. Finally, R Squared Ltd grew its stake in shares of CI&T by 24.1% during the 1st quarter. R Squared Ltd now owns 34,521 shares of the company’s stock valued at $175,000 after buying an additional 6,707 shares during the period. 92.45% of the stock is owned by institutional investors and hedge funds.

CI&T Trading Down 0.9%

NYSE:CINT traded down $0.03 on Monday, reaching $3.20. The stock had a trading volume of 33,682 shares, compared to its average volume of 138,352. CI&T has a 12-month low of $2.80 and a 12-month high of $5.88. The company has a market cap of $430.79 million, a price-to-earnings ratio of 11.04 and a beta of 0.81. The firm’s fifty day moving average is $3.42 and its two-hundred day moving average is $4.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.31.

CI&T (NYSE:CINT) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $142.82 million during the quarter, compared to analyst estimates of $140.05 million. CI&T had a net margin of 6.79% and a return on equity of 11.69%. Equities analysts expect that CI&T will post 0.31 EPS for the current fiscal year.

CI&T Company Profile

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.