Thoughtworks Holding, Inc. (NASDAQ:TWKS) Sees Large Growth in Short Interest

Thoughtworks Holding, Inc. (NASDAQ:TWKS) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 17,510,000 shares, an increase of 101.3% from the October 15th total of 8,700,000 shares. Approximately 20.4% of the company’s stock are short sold. Based on an average trading volume of 3,450,000 shares, the days-to-cover ratio is currently 5.1 days.

Analysts Set New Price Targets

Several research analysts recently issued reports on TWKS shares. Piper Sandler upped their target price on Thoughtworks from $3.40 to $4.40 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Robert W. Baird restated a “neutral” rating and set a $4.40 price objective on shares of Thoughtworks in a report on Tuesday, August 6th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Thoughtworks in a research note on Tuesday, August 6th. Finally, Baird R W lowered shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Thoughtworks presently has a consensus rating of “Hold” and a consensus target price of $4.18.

Thoughtworks Price Performance

NASDAQ TWKS remained flat at $4.47 during trading hours on Friday. Thoughtworks has a one year low of $2.19 and a one year high of $5.20. The business’s 50 day moving average price is $4.43 and its 200-day moving average price is $3.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.59 and a quick ratio of 2.59. The company has a market capitalization of $1.44 billion, a P/E ratio of -14.90 and a beta of 1.13.

Institutional Trading of Thoughtworks

Several hedge funds and other institutional investors have recently bought and sold shares of TWKS. Inspire Investing LLC acquired a new stake in shares of Thoughtworks during the 1st quarter worth approximately $360,000. State Board of Administration of Florida Retirement System increased its holdings in Thoughtworks by 52.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 40,246 shares of the company’s stock valued at $102,000 after buying an additional 13,826 shares in the last quarter. Vanguard Group Inc. increased its holdings in Thoughtworks by 1.0% in the first quarter. Vanguard Group Inc. now owns 11,446,418 shares of the company’s stock valued at $28,959,000 after buying an additional 112,782 shares in the last quarter. Summit Creek Advisors LLC raised its position in shares of Thoughtworks by 0.7% in the first quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock worth $3,379,000 after acquiring an additional 8,986 shares during the period. Finally, Pitcairn Co. purchased a new stake in shares of Thoughtworks during the 1st quarter worth about $102,000. 32.81% of the stock is owned by institutional investors and hedge funds.

Thoughtworks Company Profile

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.