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

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new position in CI&T during the 2nd quarter valued at $2,264,000. Marshall Wace LLP lifted its holdings in shares of CI&T by 245.6% in the second quarter. Marshall Wace LLP now owns 92,114 shares of the company's stock valued at $479,000 after purchasing an additional 65,457 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of CI&T in the third quarter worth $108,000. State Street Corp grew its holdings in shares of CI&T by 28.8% during the third 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 in the last quarter. Finally, XTX Topco Ltd acquired a new position in CI&T during the second quarter valued at $76,000. Hedge funds and other institutional investors own 92.45% of the company's stock.

CI&T Stock Up 2.6 %

Shares of CINT traded up $0.16 during mid-day trading on Thursday, reaching $6.24. 25,855 shares of the stock traded hands, compared to its average volume of 51,495. The stock has a fifty day simple moving average of $6.45 and a 200 day simple moving average of $6.51. CI&T has a 12-month low of $3.34 and a 12-month high of $8.04. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. The firm has a market cap of $838.72 million, a price-to-earnings ratio of 48.00 and a beta of 1.16.

Wall Street Analysts Forecast Growth

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

About CI&T

CI&T Inc, together with its subsidiaries, provides strategy, design, and software engineering services to enable digital transformation for enterprises and companies worldwide. It is also involved in the development of customizable software through the implementation of software solutions, including machine learning, artificial intelligence, analytics, cloud migration, and mobility technologies.