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

CI&T Inc. (NYSE:CINT) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 126,300 shares, a decline of 34.2% from the February 28th total of 192,000 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily volume of 104,800 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Investors Weigh In On CI&T

Large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in CI&T by 28.8% in the 3rd quarter. State Street Corp now owns 67,380 shares of the company’s stock valued at $458,000 after buying an additional 15,083 shares during the last quarter. WCM Investment Management LLC raised its position in shares of CI&T by 3.2% in the 4th quarter. WCM Investment Management LLC now owns 1,448,203 shares of the company’s stock valued at $8,747,000 after purchasing an additional 45,574 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of CI&T during the fourth quarter worth approximately $3,036,000. Virtu Financial LLC bought a new position in CI&T during the 3rd quarter valued at $108,000. Finally, Verde Servicos Internacionais S.A. acquired a new position in CI&T during the 4th quarter worth $152,000. 92.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wedbush set a $9.00 price target on shares of CI&T in a report on Monday, February 3rd. UBS Group increased their target price on CI&T from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. TD Cowen began coverage on CI&T in a research report on Friday, December 6th. They set a “buy” rating and a $9.00 price target for the company. Finally, Canaccord Genuity Group restated a “buy” rating and set a $10.00 price target on shares of CI&T in a research note on Monday, March 17th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.37.

CI&T Stock Down 1.8 %

NYSE:CINT traded down $0.11 during mid-day trading on Monday, hitting $5.98. The company had a trading volume of 54,450 shares, compared to its average volume of 93,765. The business has a fifty day simple moving average of $6.84 and a 200-day simple moving average of $6.71. The firm has a market capitalization of $803.65 million, a price-to-earnings ratio of 46.00 and a beta of 1.18. CI&T has a 1 year low of $3.34 and a 1 year high of $8.04. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.39.

CI&T (NYSE:CINT) last announced its earnings results on Wednesday, March 12th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.36). The company had revenue of $112.34 million for the quarter, compared to analysts’ expectations of $646.68 million. CI&T had a net margin of 4.39% and a return on equity of 9.55%. Equities analysts forecast that CI&T will post 0.2 earnings per share for the current fiscal year.

About CI&T

CI&T, Inc provides strategy, design and software engineering services to enable digital transformation. The firm’s solutions and services include Digital Strategy, Customer-Centric Design and Top-of-the-Line Software Engineering. The company was founded by Cesar Nivaldo Gon, Bruno Guiçardi Neto and Fernando Matt Borges Martins on June 7, 2021 and is headquartered in Sao Paulo, Brazil.