CI&T Inc. (NYSE:CINT) Sees Significant Drop in Short Interest

CI&T Inc. (NYSE:CINT) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totaling 18,191 shares, a drop of 61.0% from the August 31st total of 46,602 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 118,298 shares, the days-to-cover ratio is currently 0.2 days.

CI&T Price Performance

Shares of CINT traded up $0.14 during trading hours on Tuesday, hitting $3.03. 95,583 shares of the stock were exchanged, compared to its average volume of 133,090. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.31 and a current ratio of 1.31. CI&T has a 12-month low of $2.80 and a 12-month high of $5.80. The company has a market cap of $407.78 million, a price-to-earnings ratio of 10.45 and a beta of 0.81. The stock’s 50-day moving average price is $3.36 and its two-hundred day moving average price is $3.85.

CI&T (NYSE:CINT) last released its earnings results on Wednesday, August 12th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $142.82 million during the quarter, compared to analysts’ expectations of $140.05 million. CI&T had a return on equity of 11.69% and a net margin of 6.79%. Research analysts expect that CI&T will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On CI&T

A number of hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new position in CI&T in the second quarter valued at $43,000. Janney Montgomery Scott LLC purchased a new position in shares of CI&T in the 1st quarter valued at about $60,000. AXQ Capital LP acquired a new stake in shares of CI&T during the 2nd quarter worth about $74,000. Wedbush Securities Inc. lifted its stake in CI&T by 118.1% during the second quarter. Wedbush Securities Inc. now owns 41,600 shares of the company’s stock worth $139,000 after purchasing an additional 22,525 shares during the last quarter. Finally, R Squared Ltd lifted its stake in CI&T by 24.1% during the first quarter. R Squared Ltd now owns 34,521 shares of the company’s stock worth $175,000 after purchasing an additional 6,707 shares during the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on CINT shares. Zacks Research upgraded shares of CI&T from a “strong sell” rating to a “hold” rating in a research note on Monday, September 21st. Wedbush cut shares of CI&T from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $4.00 in a research note on Tuesday, July 21st. UBS Group lowered their price target on shares of CI&T from $7.20 to $6.20 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Wall Street Zen cut CI&T from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of CI&T in a research note on Friday. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.08.

About CI&T

CI&T, Inc is a global technology and digital transformation company that helps organizations develop, modernize and operate digital products and business systems. Its services include digital strategy, user experience and product design, software engineering, cloud technology, data and artificial intelligence, and the modernization of legacy applications.

The company works with businesses across industries such as financial services, consumer goods, healthcare, manufacturing and technology.