Thoughtworks (NASDAQ:TWKS) Sees Unusually-High Trading Volume – Here’s What Happened

Thoughtworks Holding, Inc. (NASDAQ:TWKSGet Free Report) shares saw strong trading volume on Friday . 2,177,405 shares changed hands during mid-day trading, an increase of 44% from the previous session’s volume of 1,510,783 shares.The stock last traded at $4.43 and had previously closed at $4.41.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TWKS. Piper Sandler raised their price objective on shares of Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Thoughtworks in a report on Tuesday, August 6th. Baird R W cut shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Citigroup cut their price objective on shares of Thoughtworks from $3.25 to $2.75 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, The Goldman Sachs Group began coverage on shares of Thoughtworks in a report on Monday, June 24th. They set a “sell” rating and a $2.50 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $4.18.

Read Our Latest Report on Thoughtworks

Thoughtworks Trading Up 0.5 %

The company has a 50 day simple moving average of $4.35 and a 200 day simple moving average of $3.30. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $1.43 billion, a PE ratio of -15.24 and a beta of 1.15.

Thoughtworks (NASDAQ:TWKSGet Free Report) last released its earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $251.70 million during the quarter, compared to analyst estimates of $251.37 million. Thoughtworks had a negative net margin of 11.20% and a negative return on equity of 5.81%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) EPS. Analysts predict that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in Thoughtworks by 13,157.3% during the third quarter. SG Americas Securities LLC now owns 3,319,896 shares of the company’s stock worth $14,674,000 after acquiring an additional 3,294,854 shares during the period. Algert Global LLC acquired a new position in Thoughtworks during the second quarter worth $33,000. AQR Capital Management LLC grew its holdings in Thoughtworks by 404.4% during the second quarter. AQR Capital Management LLC now owns 152,790 shares of the company’s stock worth $434,000 after acquiring an additional 122,500 shares during the period. Squarepoint Ops LLC grew its holdings in Thoughtworks by 25.6% in the second quarter. Squarepoint Ops LLC now owns 256,435 shares of the company’s stock valued at $728,000 after purchasing an additional 52,257 shares during the last quarter. Finally, 272 Capital LP grew its holdings in Thoughtworks by 29.4% in the second quarter. 272 Capital LP now owns 1,423,569 shares of the company’s stock valued at $4,043,000 after purchasing an additional 323,751 shares during the last quarter. Institutional investors and hedge funds own 32.81% of the company’s stock.

Thoughtworks Company Profile

(Get Free Report)

Thoughtworks Holding, Inc provides technology consultancy services in North America, the Asia Pacific, Europe, and Latin America. The company's consultancy services integrate strategy, design, and software engineering to enable enterprises and technology disruptors to thrive as modern digital businesses.

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