StoneCo Ltd. (NASDAQ:STNE – Get Rating) saw unusually-strong trading volume on Tuesday . Approximately 118,957 shares were traded during trading, a decline of 98% from the previous session's volume of 5,121,715 shares.The stock last traded at $9.53 and had previously closed at $8.73.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on STNE shares. The Goldman Sachs Group cut StoneCo from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $9.80 to $7.80 in a report on Tuesday, September 6th. Susquehanna dropped their price objective on StoneCo from $28.00 to $20.00 in a report on Monday, July 11th. Wells Fargo & Company dropped their price objective on StoneCo from $10.00 to $9.00 and set an "equal weight" rating for the company in a report on Thursday, September 8th. Finally, Susquehanna Bancshares decreased their target price on StoneCo from $28.00 to $20.00 in a research report on Monday, July 11th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, StoneCo has an average rating of "Hold" and a consensus target price of $16.63.
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StoneCo Trading Up 6.6 %
The stock has a market capitalization of $2.91 billion, a P/E ratio of -5.45 and a beta of 2.34. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $9.85 and a 200 day moving average price of $9.82.
StoneCo (NASDAQ:STNE – Get Rating) last released its quarterly earnings results on Thursday, August 18th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.20 billion. StoneCo had a negative return on equity of 7.68% and a negative net
margin of 36.63%. The business's revenue for the quarter was up 275.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. On average, research analysts forecast that StoneCo Ltd. will post 0.2 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in STNE. National Bank of Canada FI grew its stake in StoneCo by 75.8% during the 1st quarter. National Bank of Canada FI now owns 3,480 shares of the company's stock worth $41,000 after buying an additional 1,500 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in StoneCo by 33.8% during the 2nd quarter. Asset Management One Co. Ltd. now owns 6,665 shares of the company's stock worth $51,000 after buying an additional 1,684 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in StoneCo during the 1st quarter worth $60,000. AdvisorNet Financial Inc purchased a new position in StoneCo during the 1st quarter worth $66,000. Finally, Tortoise Index Solutions LLC grew its stake in StoneCo by 13.2% during the 2nd quarter. Tortoise Index Solutions LLC now owns 9,019 shares of the company's stock worth $69,000 after buying an additional 1,053 shares during the last quarter. 59.69% of the stock is currently owned by hedge funds and other institutional investors.
StoneCo Company Profile
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StoneCo Ltd. provides financial technology 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 technology and solutions to digital merchants through sales and technical personnel and software vendors, as well as sells solutions to brick-and-mortar and digital merchants through sales team.
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