Short Interest in CI&T Inc. (NYSE:CINT) Expands By 72.7%

CI&T Inc. (NYSE:CINT) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 192,000 shares, a growth of 72.7% from the February 13th total of 111,200 shares. Based on an average trading volume of 92,400 shares, the short-interest ratio is presently 2.1 days. Approximately 0.9% of the company’s stock are sold short.

CI&T Stock Up 2.8 %

NYSE CINT traded up $0.18 during mid-day trading on Friday, reaching $6.43. The stock had a trading volume of 116,639 shares, compared to its average volume of 92,033. The stock has a market cap of $863.60 million, a PE ratio of 49.43 and a beta of 1.18. CI&T has a 1 year low of $3.34 and a 1 year high of $8.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.58. The company has a fifty day moving average price of $6.82 and a 200 day moving average price of $6.76.

CI&T (NYSE:CINT) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.36). CI&T had a return on equity of 9.55% and a net margin of 4.39%. The business had revenue of $112.34 million during the quarter, compared to analysts’ expectations of $646.68 million. On average, research analysts expect that CI&T will post 0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

CINT has been the topic of several research reports. TD Cowen began coverage on CI&T in a research report on Friday, December 6th. They set a “buy” rating and a $9.00 price target on the stock. Canaccord Genuity Group upped their target price on shares of CI&T from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. UBS Group lifted their price target on shares of CI&T from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Finally, Wedbush set a $9.00 price objective on shares of CI&T in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $8.37.

Hedge Funds Weigh In On CI&T

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new stake in shares of CI&T in the fourth quarter worth approximately $3,036,000. BW Gestao de Investimentos Ltda. grew its position in CI&T by 20.8% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 2,699,741 shares of the company’s stock worth $16,387,000 after purchasing an additional 464,529 shares during the period. Renaissance Technologies LLC raised its stake in CI&T by 110.0% during the 4th quarter. Renaissance Technologies LLC now owns 111,700 shares of the company’s stock valued at $678,000 after buying an additional 58,500 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of CI&T by 134.4% during the 4th quarter. Marshall Wace LLP now owns 88,142 shares of the company’s stock valued at $535,000 after buying an additional 50,543 shares during the period. Finally, WCM Investment Management LLC boosted its stake in shares of CI&T by 3.2% in the 4th quarter. WCM Investment Management LLC now owns 1,448,203 shares of the company’s stock worth $8,747,000 after buying an additional 45,574 shares during the last quarter. Institutional investors own 92.45% of the company’s stock.

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.