Thoughtworks (NASDAQ:TWKS) Sees Large Volume Increase

Thoughtworks Holding, Inc. (NASDAQ:TWKS) saw an uptick in trading volume on Monday . 1,556,017 shares traded hands during mid-day trading, an increase of 13% from the previous session’s volume of 1,374,349 shares.The stock last traded at $4.39 and had previously closed at $4.40.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TWKS. Citigroup reduced their price target on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, July 12th. The Goldman Sachs Group began coverage on Thoughtworks in a research note on Monday, June 24th. They issued a “sell” rating and a $2.50 price target on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $4.40 price target on shares of Thoughtworks in a research note on Tuesday, August 6th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Thoughtworks in a research note on Tuesday, August 6th. Finally, Baird R W cut Thoughtworks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Thoughtworks has a consensus rating of “Hold” and a consensus target price of $4.18.

Thoughtworks Stock Performance

The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average price of $3.91 and a 200 day moving average price of $3.08.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $251.70 million for the quarter, compared to the consensus estimate of $251.37 million. Thoughtworks had a negative net margin of 11.20% and a negative return on equity of 5.81%. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) earnings per share. As a group, equities analysts anticipate that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Algert Global LLC bought a new position in shares of Thoughtworks during the second quarter valued at $33,000. AQR Capital Management LLC lifted its holdings in Thoughtworks by 404.4% in the second quarter. AQR Capital Management LLC now owns 152,790 shares of the company’s stock valued at $434,000 after acquiring an additional 122,500 shares during the period. Squarepoint Ops LLC lifted its holdings in Thoughtworks by 25.6% in the second quarter. Squarepoint Ops LLC now owns 256,435 shares of the company’s stock valued at $728,000 after acquiring an additional 52,257 shares during the period. 272 Capital LP lifted its holdings in Thoughtworks by 29.4% in the second quarter. 272 Capital LP now owns 1,423,569 shares of the company’s stock valued at $4,043,000 after acquiring an additional 323,751 shares during the period. Finally, Marshall Wace LLP bought a new position in Thoughtworks in the second quarter valued at about $167,000. 32.81% of the stock is owned by institutional investors.

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.