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

CI&T Inc. (NYSE:CINT) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 80,000 shares, a drop of 22.9% from the December 31st total of 103,800 shares. Based on an average daily volume of 58,900 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.4% of the shares of the company are sold short.

Institutional Investors Weigh In On CI&T

Hedge funds have recently modified their holdings of the business. XTX Topco Ltd acquired a new position in CI&T in the 2nd quarter worth $76,000. Marshall Wace LLP raised its holdings in shares of CI&T by 245.6% in the second quarter. Marshall Wace LLP now owns 92,114 shares of the company’s stock valued at $479,000 after purchasing an additional 65,457 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of CI&T by 12.5% in the third quarter. GSA Capital Partners LLP now owns 27,010 shares of the company’s stock worth $183,000 after purchasing an additional 2,995 shares in the last quarter. State Street Corp boosted its holdings in CI&T by 28.8% during the third quarter. State Street Corp now owns 67,380 shares of the company’s stock worth $458,000 after purchasing an additional 15,083 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in CI&T during the third quarter worth $108,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group increased their target price on CI&T from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Canaccord Genuity Group lifted their price objective on CI&T from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, TD Cowen began coverage on shares of CI&T in a report on Friday, December 6th. They issued a “buy” rating and a $9.00 target price on the stock. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.92.

CI&T Stock Performance

Shares of CINT stock opened at $6.77 on Thursday. The stock has a 50-day moving average of $6.41 and a 200-day moving average of $6.60. CI&T has a one year low of $3.34 and a one year high of $8.04. The stock has a market cap of $909.96 million, a PE ratio of 52.08 and a beta of 1.16. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.58.

CI&T Company Profile

CI&T, Inc provides strategy, design and software engineering services to enable digital transformation. The firm’s solutions and services include Digital Strategy, Customer-Centric Design and Top-of-the-Line Software Engineering. The company was founded by Cesar Nivaldo Gon, Bruno Guiçardi Neto and Fernando Matt Borges Martins on June 7, 2021 and is headquartered in Sao Paulo, Brazil.