CI&T (NYSE:CINT) Sees Unusually-High Trading Volume – Here’s What Happened

CI&T Inc. (NYSE:CINT) shares saw strong trading volume on Wednesday . 128,686 shares were traded during mid-day trading, an increase of 106% from the previous session’s volume of 62,535 shares.The stock last traded at $6.48 and had previously closed at $6.56.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group upped their price target on CI&T from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Canaccord Genuity Group increased their target price on CI&T from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, TD Cowen started coverage on shares of CI&T in a research note on Friday, December 6th. They set a “buy” rating and a $9.00 price objective on the stock. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.92.

CI&T Stock Performance

The stock has a fifty day simple moving average of $6.40 and a 200-day simple moving average of $6.55. The stock has a market cap of $875.01 million, a P/E ratio of 50.08 and a beta of 1.16. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.58 and a current ratio of 1.58.

Hedge Funds Weigh In On CI&T

Several hedge funds have recently made changes to their positions in the business. State Street Corp grew its stake in CI&T by 28.8% in the third quarter. State Street Corp now owns 67,380 shares of the company’s stock valued at $458,000 after purchasing an additional 15,083 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of CI&T by 12.5% in the 3rd quarter. GSA Capital Partners LLP now owns 27,010 shares of the company’s stock valued at $183,000 after buying an additional 2,995 shares during the last quarter. XTX Topco Ltd bought a new position in shares of CI&T in the second quarter valued at $76,000. Virtu Financial LLC acquired a new position in CI&T during the third quarter worth $108,000. Finally, Marshall Wace LLP lifted its stake in CI&T by 245.6% in the second quarter. Marshall Wace LLP now owns 92,114 shares of the company’s stock valued at $479,000 after acquiring an additional 65,457 shares during the last quarter. 92.45% of the stock is owned by institutional investors.

CI&T Company Profile

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.