Short Interest in Thoughtworks Holding, Inc. (NASDAQ:TWKS) Rises By 101.3%

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

Thoughtworks Stock Performance

TWKS remained flat at $4.47 during midday trading on Wednesday. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -14.90 and a beta of 1.13. The stock has a fifty day moving average of $4.42 and a 200 day moving average of $3.65. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.39. Thoughtworks has a 1-year low of $2.19 and a 1-year high of $5.20.

Hedge Funds Weigh In On Thoughtworks

A number of large investors have recently modified their holdings of TWKS. Algert Global LLC bought a new position in shares of Thoughtworks in the second quarter valued at approximately $33,000. Simplicity Wealth LLC purchased a new stake in Thoughtworks in the 2nd quarter valued at about $44,000. Catalina Capital Group LLC lifted its position in shares of Thoughtworks by 67.5% during the 2nd quarter. Catalina Capital Group LLC now owns 17,439 shares of the company's stock worth $50,000 after buying an additional 7,026 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Thoughtworks in the 2nd quarter worth approximately $71,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Thoughtworks by 49.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,452 shares of the company's stock valued at $84,000 after acquiring an additional 9,793 shares in the last quarter. 32.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TWKS. Baird R W cut Thoughtworks from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Thoughtworks in a research report on Tuesday, August 6th. Piper Sandler lifted 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. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $4.40 price target on shares of Thoughtworks in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $4.18.

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.