Short Interest in AGI Inc (NYSE:AGBK) Drops By 37.0%

AGI Inc (NYSE:AGBK) saw a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 962,739 shares, a drop of 37.0% from the July 30th total of 1,529,138 shares. Based on an average daily volume of 431,871 shares, the days-to-cover ratio is presently 2.2 days. Approximately 0.6% of the shares of the company are sold short.

AGI Trading Up 0.5%

AGBK opened at $6.18 on Monday. AGI has a 1-year low of $5.91 and a 1-year high of $12.21. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $988.37 million and a PE ratio of 10.47. The company has a 50 day simple moving average of $6.72.

Analysts Set New Price Targets

Several analysts recently issued reports on AGBK shares. Zacks Research downgraded shares of AGI from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. The Goldman Sachs Group set a $13.00 target price on shares of AGI in a report on Thursday, August 6th. Oppenheimer decreased their price target on shares of AGI from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Itau BBA Securities lowered AGI from an “outperform” rating to a “market perform” rating and set a $9.00 price objective on the stock. in a research note on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of AGI in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $14.14.

About AGI

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.