Nvni Group Limited (NASDAQ:NVNI) Short Interest Update

Nvni Group Limited (NASDAQ:NVNI) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 975,790 shares, an increase of 447.8% from the May 31st total of 178,128 shares. Based on an average daily volume of 2,331,218 shares, the days-to-cover ratio is currently 0.4 days. Currently, 12.2% of the shares of the stock are sold short.

Nvni Group Stock Down 0.9%

NVNI traded down $0.01 during trading on Friday, reaching $0.95. The company’s stock had a trading volume of 33,748 shares, compared to its average volume of 1,398,322. The company has a market cap of $9.54 million, a price-to-earnings ratio of 2.38 and a beta of -0.10. The firm has a fifty day simple moving average of $1.13 and a two-hundred day simple moving average of $1.69. Nvni Group has a 1 year low of $0.77 and a 1 year high of $16.40.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Nvni Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Nvni Group has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NVNI. Narus Financial Partners LLC boosted its position in shares of Nvni Group by 71.8% during 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 last quarter. Jane Street Group LLC acquired a new stake in Nvni Group during the second quarter worth about $40,000. Finally, Turim 21 Investimentos Ltda. raised its stake in Nvni Group by 50.9% during the third quarter. Turim 21 Investimentos Ltda. now owns 55,870 shares of the company’s stock worth $46,000 after purchasing an additional 18,847 shares during the period. Hedge funds and other institutional investors own 0.49% of the company’s stock.

About Nvni Group

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.