CI&T Inc (NYSE:CINT – Get Rating) saw a large decline in short interest in December. As of December 15th, there was short interest totalling 192,800 shares, a decline of 18.5% from the November 30th total of 236,600 shares. Based on an average trading volume of 45,300 shares, the days-to-cover ratio is presently 4.3 days. Approximately 1.0% of the company's shares are sold short.
Hedge Funds Weigh In On CI&T
A number of institutional investors and hedge funds have recently made changes to their positions in CINT. Verdence Capital Advisors LLC acquired a new position in shares of CI&T during the third quarter worth about $95,000. Brinker Capital Investments LLC purchased a new stake in CI&T during the second quarter worth approximately $108,000. Sei Investments Co. purchased a new stake in CI&T during the second quarter worth approximately $118,000. LPL Financial LLC purchased a new stake in CI&T during the second quarter worth approximately $168,000. Finally, Citadel Advisors LLC purchased a new stake in CI&T during the second quarter worth approximately $192,000. 9.36% of the stock is owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. downgraded CI&T from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $10.00 to $9.00 in a research report on Thursday, December 15th.
CI&T Price Performance
NYSE CINT traded down $0.05 during trading on Monday, hitting $6.50. The stock had a trading volume of 239 shares, compared to its average volume of 87,315. CI&T has a twelve month low of $5.22 and a twelve month high of $19.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a 50 day moving average price of $7.25 and a 200 day moving average price of $9.29.
CI&T (NYSE:CINT – Get Rating) last announced its quarterly earnings data on Thursday, November 17th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.03. The company had revenue of $106.72 million for the quarter, compared to analyst estimates of $107.26 million. As a group, research analysts predict that CI&T will post 0.28 earnings per share for the current year.
CI&T Company Profile
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CI&T Inc, together with its subsidiaries, provides strategy, design, and software engineering services to enable digital transformation for enterprises worldwide. It develops customizable software through the implementation of software solutions, including machine learning, artificial intelligence, analytics, and cloud and mobility technologies.
Further Reading
- Get a free copy of the StockNews.com research report on CI&T (CINT)
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