CI&T Inc. (NYSE:CINT) Sees Large Drop in Short Interest

CI&T Inc. (NYSE:CINT - Get Free Report) saw a significant decrease in short interest in January. As of January 15th, there was short interest totalling 80,000 shares, a decrease of 22.9% from the December 31st total of 103,800 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 58,900 shares, the short-interest ratio is presently 1.4 days.

CI&T Trading Up 3.1 %

Shares of CI&T stock traded up $0.21 during trading hours on Thursday, reaching $6.98. The stock had a trading volume of 32,083 shares, compared to its average volume of 76,606. The firm has a 50 day simple moving average of $6.41 and a two-hundred day simple moving average of $6.60. The firm has a market capitalization of $937.91 million, a price-to-earnings ratio of 53.81 and a beta of 1.16. CI&T has a 1 year low of $3.34 and a 1 year high of $8.04. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.39.

Hedge Funds Weigh In On CI&T

A number of hedge funds have recently made changes to their positions in the business. WCM Investment Management LLC grew its stake in shares of CI&T by 3.2% during the fourth quarter. WCM Investment Management LLC now owns 1,448,203 shares of the company's stock valued at $8,747,000 after acquiring an additional 45,574 shares in the last quarter. Verde Servicos Internacionais S.A. purchased a new stake in CI&T during the 4th quarter worth approximately $152,000. Virtu Financial LLC acquired a new position in shares of CI&T in the 3rd quarter valued at approximately $108,000. State Street Corp boosted 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 valued at $458,000 after buying an additional 15,083 shares during the last quarter. Finally, GSA Capital Partners LLP grew its position in shares of CI&T by 12.5% during the third quarter. GSA Capital Partners LLP now owns 27,010 shares of the company's stock worth $183,000 after buying an additional 2,995 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.

Analyst Ratings Changes

CINT has been the subject of a number of recent research reports. TD Cowen initiated coverage on shares of CI&T in a research note on Friday, December 6th. They set a "buy" rating and a $9.00 price objective for the company. Canaccord Genuity Group upped their price objective on CI&T from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Monday, November 18th. Finally, UBS Group increased their price objective on CI&T from $7.50 to $8.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. Four investment 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $7.92.

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.