Short Interest in CI&T Inc. (NYSE:CINT) Grows By 55.3%

CI&T Inc. (NYSE:CINT) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 111,200 shares, an increase of 55.3% from the January 31st total of 71,600 shares. Based on an average daily trading volume, of 88,900 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.5% of the shares of the stock are short sold.

CI&T Price Performance

Shares of NYSE:CINT traded down $0.08 on Tuesday, reaching $7.02. The company’s stock had a trading volume of 77,378 shares, compared to its average volume of 112,946. The company has a 50-day simple moving average of $6.71 and a 200 day simple moving average of $6.78. CI&T has a 52-week low of $3.34 and a 52-week high of $8.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market cap of $943.98 million, a P/E ratio of 54.03 and a beta of 1.19.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CINT shares. Canaccord Genuity Group boosted 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. UBS Group lifted their price target on shares of CI&T from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. TD Cowen began coverage on shares of CI&T in a report on Friday, December 6th. They set a “buy” rating and a $9.00 price objective for the company. Finally, Wedbush set a $9.00 price objective on CI&T in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CI&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.37.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in shares of CI&T in the 4th quarter valued at approximately $3,036,000. BW Gestao de Investimentos Ltda. raised its holdings in CI&T by 20.8% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 2,699,741 shares of the company’s stock valued at $16,387,000 after buying an additional 464,529 shares during the period. Renaissance Technologies LLC lifted its position in CI&T by 110.0% in the fourth quarter. Renaissance Technologies LLC now owns 111,700 shares of the company’s stock worth $678,000 after buying an additional 58,500 shares during the last quarter. Marshall Wace LLP boosted its stake in CI&T by 134.4% during the fourth quarter. Marshall Wace LLP now owns 88,142 shares of the company’s stock worth $535,000 after buying an additional 50,543 shares during the period. Finally, WCM Investment Management LLC increased its position in CI&T by 3.2% during the fourth quarter. WCM Investment Management LLC now owns 1,448,203 shares of the company’s stock valued at $8,747,000 after acquiring an additional 45,574 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

CI&T Company Profile

CI&T, Inc provides strategy, design and software engineering services to enable digital transformation. The firm’s solutions and services include Digital Strategy, Customer-Centric Design and Top-of-the-Line Software Engineering. The company was founded by Cesar Nivaldo Gon, Bruno Guiçardi Neto and Fernando Matt Borges Martins on June 7, 2021 and is headquartered in Sao Paulo, Brazil.