Inter & Co. Inc. (NASDAQ:INTR) Stock Price Up 6.8% Following Analyst Upgrade

Shares of Inter & Co. Inc. (NASDAQ:INTR) were up 6.8% during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $9.00 to $11.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Inter & Co. Inc. traded as high as $6.99 and last traded at $7.0050. 4,192,553 shares were traded during trading, a decline of 12% from the average session volume of 4,748,810 shares. The stock had previously closed at $6.56.

Other equities research analysts have also recently issued reports about the company. UBS Group decreased their price target on Inter & Co. Inc. from $9.40 to $8.80 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings downgraded Inter & Co. Inc. from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, July 10th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.56.

Institutional Trading of Inter & Co. Inc.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its holdings in Inter & Co. Inc. by 27,583.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 13,288 shares of the company’s stock valued at $113,000 after buying an additional 13,240 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Inter & Co. Inc. by 15.3% during the 1st quarter. Quantinno Capital Management LP now owns 16,783 shares of the company’s stock valued at $134,000 after purchasing an additional 2,230 shares during the period. Lazard Asset Management LLC bought a new position in Inter & Co. Inc. during the 1st quarter valued at approximately $182,000. The Manufacturers Life Insurance Company purchased a new stake in Inter & Co. Inc. in the 1st quarter worth approximately $192,000. Finally, Entropy Technologies LP bought a new stake in shares of Inter & Co. Inc. in the 1st quarter worth approximately $214,000. Institutional investors own 22.90% of the company’s stock.

Inter & Co. Inc. Stock Up 2.1%

The company has a 50 day moving average price of $5.53 and a 200-day moving average price of $6.19. The stock has a market capitalization of $3.17 billion, a PE ratio of 10.88, a PEG ratio of 0.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.90 and a quick ratio of 0.90.

Inter & Co. Inc. (NASDAQ:INTR) last posted its earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Inter & Co. Inc. had a return on equity of 14.94% and a net margin of 11.23%.The firm had revenue of $475.45 million for the quarter, compared to the consensus estimate of $513.31 million. As a group, analysts forecast that Inter & Co. Inc. will post 0.75 earnings per share for the current fiscal year.

About Inter & Co. Inc.

Inter & Co Inc is a technology and financial services company that operates the Inter platform, a digital banking and commerce ecosystem serving customers primarily in Brazil. The company provides financial products through a mobile application designed to bring banking, payments and other consumer services together in one platform.

Its offerings include digital checking accounts, payment services, credit cards, personal and payroll loans, mortgages, insurance, foreign-exchange services and investment products.