Short Interest in CI&T Inc. (NYSE:CINT) Declines By 34.2%

CI&T Inc. (NYSE:CINT) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 126,300 shares, a decline of 34.2% from the February 28th total of 192,000 shares. Based on an average trading volume of 104,800 shares, the short-interest ratio is currently 1.2 days. Currently, 0.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp bought a new stake in CI&T during the 4th quarter worth approximately $68,000. Virtu Financial LLC purchased a new stake in shares of CI&T in the 3rd quarter valued at $108,000. Two Sigma Investments LP purchased a new position in shares of CI&T in the fourth quarter worth about $111,000. Cubist Systematic Strategies LLC grew its position in CI&T by 82.2% during the 4th quarter. Cubist Systematic Strategies LLC now owns 18,755 shares of the company’s stock worth $114,000 after acquiring an additional 8,459 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. purchased a new position in shares of CI&T in the fourth quarter worth $152,000. Institutional investors own 92.45% of the company’s stock.

CI&T Stock Performance

Shares of NYSE:CINT traded down $0.08 during midday trading on Friday, reaching $6.09. The company had a trading volume of 102,947 shares, compared to its average volume of 93,922. The stock has a market cap of $818.57 million, a P/E ratio of 46.85 and a beta of 1.18. The company’s 50 day moving average price is $6.85 and its 200 day moving average price is $6.72. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.39. CI&T has a 52-week low of $3.34 and a 52-week high of $8.04.

CI&T (NYSE:CINT) last released its quarterly earnings data on Wednesday, March 12th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.36). CI&T had a net margin of 4.39% and a return on equity of 9.55%. The business had revenue of $112.34 million for the quarter, compared to analysts’ expectations of $646.68 million. As a group, sell-side analysts anticipate that CI&T will post 0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 price objective on shares of CI&T in a research report on Monday, March 17th. UBS Group boosted their price objective on CI&T from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. TD Cowen initiated coverage on shares of CI&T in a research report on Friday, December 6th. They set a “buy” rating and a $9.00 price target on the stock. Finally, Wedbush set a $9.00 price target on CI&T in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CI&T has a consensus rating of “Moderate Buy” and a consensus target price of $8.37.

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.