CI&T Inc. (NYSE:CINT) Sees Significant Decline in Short Interest

CI&T Inc. (NYSE:CINT) saw a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 80,000 shares, a decline 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 currently 1.4 days. Approximately 0.4% of the company’s shares are sold short.

CI&T Stock Performance

Shares of NYSE CINT traded up $0.06 during trading hours on Friday, reaching $6.96. The stock had a trading volume of 48,442 shares, compared to its average volume of 72,129. The firm has a market cap of $935.49 million, a price-to-earnings ratio of 53.54 and a beta of 1.16. CI&T has a fifty-two week low of $3.34 and a fifty-two week high of $8.04. The firm has a 50-day moving average of $6.42 and a 200-day moving average of $6.61. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.39.

Wall Street Analyst Weigh In

CINT has been the subject of several analyst reports. UBS Group increased their price objective on CI&T from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. TD Cowen began coverage on shares of CI&T in a report on Friday, December 6th. They set a “buy” rating and a $9.00 target price on the stock. Finally, Canaccord Genuity Group boosted their price objective on CI&T from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CI&T has an average rating of “Moderate Buy” and an average price target of $7.92.

Hedge Funds 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 during the second quarter worth $76,000. Virtu Financial LLC acquired a new stake in CI&T during the 3rd quarter valued at $108,000. Verde Servicos Internacionais S.A. purchased a new stake in CI&T during the 4th quarter worth about $152,000. GSA Capital Partners LLP raised 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 valued at $183,000 after buying an additional 2,995 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of CI&T by 28.8% during the 3rd 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 period. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

About CI&T

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.