DLocal Limited (NASDAQ:DLO) Sees Significant Drop in Short Interest

DLocal Limited (NASDAQ:DLO) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 8,560,000 shares, a drop of 21.5% from the February 13th total of 10,900,000 shares. Approximately 13.7% of the shares of the company are short sold. Based on an average trading volume of 1,260,000 shares, the days-to-cover ratio is currently 6.8 days.

Institutional Investors Weigh In On DLocal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in shares of DLocal by 398.4% during the 4th quarter. Wells Fargo & Company MN now owns 2,248 shares of the company’s stock valued at $25,000 after purchasing an additional 1,797 shares during the period. Activest Wealth Management grew its holdings in DLocal by 265,600.0% during the fourth quarter. Activest Wealth Management now owns 2,657 shares of the company’s stock worth $30,000 after acquiring an additional 2,656 shares during the period. Parvin Asset Management LLC bought a new stake in DLocal in the fourth quarter worth about $55,000. R Squared Ltd acquired a new stake in DLocal in the 4th quarter valued at about $82,000. Finally, Virtu Financial LLC bought a new position in shares of DLocal during the 4th quarter valued at about $142,000. Institutional investors own 90.13% of the company’s stock.

DLocal Stock Performance

Shares of NASDAQ:DLO traded up $0.80 on Monday, hitting $9.42. The company’s stock had a trading volume of 805,142 shares, compared to its average volume of 1,633,909. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 3.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.54 and a current ratio of 1.54. DLocal has a 12 month low of $6.57 and a 12 month high of $18.27. The stock’s 50-day moving average is $11.78 and its two-hundred day moving average is $10.45.

DLocal (NASDAQ:DLO) last announced its earnings results on Thursday, February 27th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. DLocal had a net margin of 16.35% and a return on equity of 32.59%. The firm had revenue of $204.49 million during the quarter, compared to analyst estimates of $204.98 million. On average, equities research analysts forecast that DLocal will post 0.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DLO. The Goldman Sachs Group boosted their target price on shares of DLocal from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Barclays dropped their price objective on shares of DLocal from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Susquehanna lifted their target price on DLocal from $14.00 to $16.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. upgraded DLocal from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $14.00 to $18.00 in a research report on Wednesday, February 26th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $10.00 price target (down previously from $11.00) on shares of DLocal in a report on Friday, February 28th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.94.

DLocal Company Profile

DLocal Limited operates a payment processing platform worldwide. The company offers pay-in solution which the business and get paid for their products and services through various payment methods, including international and local cards, online bank transfers and direct debit, cash, and alternative payment methods.