CI&T Inc. (NYSE:CINT) Short Interest Down 22.9% in December

CI&T Inc. (NYSE:CINT) saw a large decline in short interest in the month of 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. Based on an average daily volume of 58,900 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.4% of the shares of the company are short sold.

Institutional Trading of CI&T

Institutional investors and hedge funds have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new position in CI&T in the second quarter valued at $2,264,000. Marshall Wace LLP boosted its holdings in shares of CI&T by 245.6% in the 2nd quarter. Marshall Wace LLP now owns 92,114 shares of the company’s stock worth $479,000 after purchasing an additional 65,457 shares in the last quarter. Virtu Financial LLC bought a new position in shares of CI&T during the 3rd quarter valued at about $108,000. State Street Corp raised its holdings 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 in the last quarter. Finally, XTX Topco Ltd bought a new stake in CI&T in the 2nd quarter worth approximately $76,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

CI&T Trading Up 0.7 %

Shares of CINT opened at $6.37 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.58. CI&T has a 1-year low of $3.34 and a 1-year high of $8.04. The company has a market capitalization of $855.52 million, a P/E ratio of 48.97 and a beta of 1.16. The firm’s 50 day simple moving average is $6.43 and its 200 day simple moving average is $6.52.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group raised their target price on CI&T from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. TD Cowen initiated coverage on shares of CI&T in a research report on Friday, December 6th. They issued a “buy” rating and a $9.00 price objective for the company. Finally, Canaccord Genuity Group upped their target price on shares of CI&T from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, CI&T presently has a consensus rating of “Moderate Buy” and an average price target 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.