StoneCo (NASDAQ:STNE) Sets New 52-Week Low – Time to Sell?

StoneCo Ltd. (NASDAQ:STNE) shares hit a new 52-week low during trading on Friday . The company traded as low as $7.73 and last traded at $7.87, with a volume of 763050 shares traded. The stock had previously closed at $7.97.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on STNE shares. JPMorgan Chase & Co. reduced their target price on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Barclays decreased their price objective on StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Cantor Fitzgerald upgraded StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Susquehanna lowered their target price on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.13.

StoneCo Stock Performance

The stock has a market cap of $2.41 billion, a P/E ratio of 6.09, a PEG ratio of 0.35 and a beta of 2.23. The stock has a fifty day simple moving average of $9.36 and a 200-day simple moving average of $11.29. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of STNE. Y.D. More Investments Ltd boosted its stake in shares of StoneCo by 90.2% during the 2nd quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock worth $58,000 after acquiring an additional 2,275 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in StoneCo during the third quarter valued at approximately $125,000. Point72 Hong Kong Ltd bought a new position in StoneCo in the second quarter valued at about $135,000. Covestor Ltd increased its holdings in shares of StoneCo by 40.9% during the third quarter. Covestor Ltd now owns 13,350 shares of the company’s stock worth $150,000 after buying an additional 3,878 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of StoneCo in the third quarter valued at approximately $156,000. 73.19% of the stock is owned by institutional investors and hedge funds.

About StoneCo

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.