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

CI&T Inc. (NYSE:CINT) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 132,776 shares, an increase of 73.3% from the May 31st total of 76,606 shares. Based on an average daily trading volume, of 272,309 shares, the short-interest ratio is presently 0.5 days. Approximately 0.1% of the company’s stock are short sold.

CI&T Trading Down 7.0%

CI&T stock opened at $3.63 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.18. CI&T has a 52 week low of $3.16 and a 52 week high of $6.10. The company has a market capitalization of $487.98 million, a price-to-earnings ratio of 11.70 and a beta of 0.81. The stock has a 50-day moving average price of $3.80 and a 200 day moving average price of $4.47.

CI&T (NYSE:CINT) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). CI&T had a return on equity of 13.19% and a net margin of 7.90%.The business had revenue of $136.61 million during the quarter, compared to analyst estimates of $133.28 million. Sell-side analysts anticipate that CI&T will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CINT shares. Canaccord Genuity Group boosted their price objective on shares of CI&T from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. UBS Group lifted their price target on shares of CI&T from $7.10 to $7.20 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings lowered shares of CI&T from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Wall Street Zen downgraded CI&T from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Wedbush decreased their price objective on CI&T from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $6.80.

Institutional Investors Weigh In On CI&T

A number of hedge funds have recently bought and sold shares of CINT. NewEdge Advisors LLC acquired a new position in shares of CI&T during the first quarter worth about $181,000. Lazard Asset Management LLC increased its stake in shares of CI&T by 6.4% during the first quarter. Lazard Asset Management LLC now owns 102,742 shares of the company’s stock worth $521,000 after buying an additional 6,171 shares during the period. R Squared Ltd raised its holdings in CI&T by 24.1% in the first quarter. R Squared Ltd now owns 34,521 shares of the company’s stock valued at $175,000 after acquiring an additional 6,707 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in CI&T in the first quarter worth approximately $60,000. Finally, XTX Topco Ltd purchased a new position in CI&T in the fourth quarter worth approximately $287,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

CI&T Company Profile

CI&T Inc (NYSE:CINT) is a global digital solutions and technology services provider specializing in end-to-end digital transformation. The company partners with clients across industries such as financial services, retail, healthcare and technology to deliver tailored software products, agile development practices and customer-centric design. Its core offerings include digital strategy consulting, user experience and interface design, cloud-native application development, data engineering and full-cycle product lifecycle management.

Leveraging a proprietary agile framework, CI&T helps organizations accelerate time-to-market and improve operational efficiency through continuous delivery and DevOps automation.