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

Thoughtworks Holding, Inc. (NASDAQ:TWKS - Get Free Report) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 8,700,000 shares, a growth of 145.1% from the September 30th total of 3,550,000 shares. Currently, 10.2% of the company's stock are sold short. Based on an average daily trading volume, of 3,820,000 shares, the short-interest ratio is presently 2.3 days.

Hedge Funds Weigh In On Thoughtworks

Several institutional investors have recently made changes to their positions in the company. Catalina Capital Group LLC purchased a new stake in Thoughtworks in the 1st quarter worth $26,000. Algert Global LLC acquired a new position in Thoughtworks in the 2nd quarter valued at $33,000. Duality Advisers LP purchased a new position in Thoughtworks in the 1st quarter valued at $36,000. Simplicity Wealth LLC acquired a new stake in Thoughtworks during the 2nd quarter worth $44,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Thoughtworks during the second quarter worth $71,000. 32.81% of the stock is owned by hedge funds and other institutional investors.

Thoughtworks Stock Performance

NASDAQ TWKS traded up $0.01 on Friday, reaching $4.45. 3,745,053 shares of the company's stock traded hands, compared to its average volume of 1,737,750. Thoughtworks has a fifty-two week low of $2.19 and a fifty-two week high of $5.20. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.59 and a current ratio of 2.59. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -12.36 and a beta of 1.15. The stock has a 50 day moving average price of $4.40 and a 200-day moving average price of $3.46.

Thoughtworks (NASDAQ:TWKS - Get Free Report) last issued its earnings results on Monday, August 5th. The company reported ($0.03) EPS for the quarter. The company had revenue of $251.70 million during the quarter, compared to analysts' expectations of $251.37 million. Thoughtworks had a negative return on equity of 5.81% and a negative net margin of 11.20%. The firm's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) EPS. Equities research analysts predict that Thoughtworks will post -0.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on TWKS. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Thoughtworks in a report on Tuesday, August 6th. Piper Sandler upped their price target on shares of Thoughtworks from $3.40 to $4.40 and gave the company a "neutral" rating in a research note on Tuesday, August 6th. Baird R W downgraded shares of Thoughtworks from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Robert W. Baird reissued a "neutral" rating and set a $4.40 price objective on shares of Thoughtworks in a report on Tuesday, August 6th. Finally, Citigroup reduced their target price on Thoughtworks from $3.25 to $2.75 and set a "neutral" rating for the company in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $4.18.

About Thoughtworks

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.