Inter & Co, Inc. (NASDAQ:INTR) Sees Large Drop in Short Interest

Inter & Co, Inc. (NASDAQ:INTR) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 6,430,000 shares, a drop of 8.8% from the September 15th total of 7,050,000 shares. Based on an average daily trading volume, of 2,040,000 shares, the short-interest ratio is currently 3.2 days. Currently, 3.2% of the shares of the stock are sold short.

Hedge Funds Weigh In On Inter & Co, Inc.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bayesian Capital Management LP bought a new position in Inter & Co, Inc. in the first quarter valued at approximately $180,000. Squarepoint Ops LLC boosted its position in shares of Inter & Co, Inc. by 46.4% during the second quarter. Squarepoint Ops LLC now owns 37,708 shares of the company’s stock worth $232,000 after purchasing an additional 11,949 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Inter & Co, Inc. during the first quarter worth $346,000. Quadrature Capital Ltd boosted its position in shares of Inter & Co, Inc. by 496.8% during the fourth quarter. Quadrature Capital Ltd now owns 69,518 shares of the company’s stock worth $387,000 after purchasing an additional 57,870 shares in the last quarter. Finally, Handelsbanken Fonder AB bought a new position in shares of Inter & Co, Inc. during the third quarter worth $603,000. 22.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INTR. UBS Group raised their price objective on shares of Inter & Co, Inc. from $6.50 to $8.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Citigroup assumed coverage on shares of Inter & Co, Inc. in a report on Tuesday, June 25th. They set a “buy” rating and a $6.80 price objective for the company. Finally, JPMorgan Chase & Co. raised shares of Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and increased their price target for the company from $7.50 to $8.50 in a research note on Wednesday, October 9th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $7.56.

Inter & Co, Inc. Trading Up 2.2 %

INTR stock traded up $0.14 during midday trading on Wednesday, reaching $6.45. The company’s stock had a trading volume of 806,665 shares, compared to its average volume of 1,438,087. Inter & Co, Inc. has a 52 week low of $4.01 and a 52 week high of $7.84. The stock has a market cap of $2.80 billion, a PE ratio of 27.43 and a beta of 1.50. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.01. The business’s 50-day simple moving average is $7.01 and its 200-day simple moving average is $6.34.

Inter & Co, Inc. (NASDAQ:INTR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Inter & Co, Inc. had a net margin of 8.85% and a return on equity of 7.85%. The firm had revenue of $283.71 million for the quarter, compared to analysts’ expectations of $264.62 million. As a group, sell-side analysts expect that Inter & Co, Inc. will post 0.37 EPS for the current year.

About Inter & Co, Inc.

Inter & Co, Inc, through its subsidiaries, engages in the banking and spending, investments, insurance brokerage businesses. The company's Banking & Spending segment offers banking products and services, including checking accounts, cards, deposits, loans and advances, and other services.