Nvni Group Limited (NASDAQ:NVNI) Sees Significant Decrease in Short Interest

Nvni Group Limited (NASDAQ:NVNI) saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 541,557 shares, a drop of 44.5% from the June 15th total of 975,790 shares. Based on an average daily volume of 68,868 shares, the short-interest ratio is presently 7.9 days. Approximately 6.7% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVNI. Narus Financial Partners LLC raised its position in shares of Nvni Group by 71.8% in the 3rd quarter. Narus Financial Partners LLC now owns 35,400 shares of the company’s stock valued at $29,000 after acquiring an additional 14,800 shares during the period. Turim 21 Investimentos Ltda. lifted its holdings in shares of Nvni Group by 50.9% in the third quarter. Turim 21 Investimentos Ltda. now owns 55,870 shares of the company’s stock valued at $46,000 after purchasing an additional 18,847 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Nvni Group during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 0.49% of the company’s stock.

Analyst Ratings Changes

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

Nvni Group Price Performance

Shares of NASDAQ:NVNI traded up $0.01 during trading on Friday, reaching $1.57. The stock had a trading volume of 47,324 shares, compared to its average volume of 426,130. The stock has a market capitalization of $15.75 million, a PE ratio of 3.92 and a beta of -0.06. The business’s 50-day moving average price is $1.08 and its 200 day moving average price is $1.48. Nvni Group has a 52 week low of $0.77 and a 52 week high of $16.40.

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

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.