StoneCo (NASDAQ:STNE) Hits New 12-Month Low - Here's What Happened

Shares of StoneCo Ltd. (NASDAQ:STNE - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $7.88 and last traded at $7.90, with a volume of 1157559 shares trading hands. The stock had previously closed at $8.19.

Analyst Ratings Changes

STNE has been the topic of a number of recent analyst reports. Susquehanna dropped their price objective on StoneCo from $22.00 to $19.00 and set a "positive" rating on the stock in a research note on Wednesday, November 13th. JPMorgan Chase & Co. dropped their price target on StoneCo from $21.00 to $15.00 and set an "overweight" rating on the stock in a research report on Monday, December 16th. Cantor Fitzgerald upgraded StoneCo to a "strong-buy" rating in a report on Thursday, October 3rd. Barclays lowered their price objective on shares of StoneCo from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday, November 18th. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $7.00 target price (down previously from $16.50) on shares of StoneCo in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, StoneCo presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.13.

StoneCo Stock Performance

The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $9.94 and a 200 day moving average of $11.52. The stock has a market capitalization of $2.43 billion, a P/E ratio of 6.16, a PEG ratio of 0.35 and a beta of 2.21.

Hedge Funds Weigh In On StoneCo

A number of hedge funds and other institutional investors have recently made changes to their positions in STNE. Y.D. More Investments Ltd raised its position in StoneCo by 90.2% in the second quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company's stock worth $58,000 after purchasing an additional 2,275 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of StoneCo in the 3rd quarter worth approximately $125,000. Point72 Hong Kong Ltd bought a new position in shares of StoneCo during the 2nd quarter worth approximately $135,000. nVerses Capital LLC acquired a new stake in StoneCo in the 2nd quarter valued at $137,000. Finally, Covestor Ltd grew its position in StoneCo by 40.9% in the third quarter. Covestor Ltd now owns 13,350 shares of the company's stock valued at $150,000 after acquiring an additional 3,878 shares during the period. 73.19% of the stock is owned by institutional investors.

About StoneCo

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.