() experienced a significant decline in short interest throughout the month of March. On April 15th there were 108,500 short shares. This is a 19.2% decrease from the total of 134 300 shares on March 31st. Short selling is currently 0.5% of shares. The days-tocover ratio, based on an average daily volume of 50,300 share, is currently 2.2 days.
CI&T Trading up 1.0 %
During Friday's trading hours, the company gained $0.04 to reach $3.94. The trading volume was 5,923 shares compared to the average of 43,143. CI&T's 52-week low is $3.85, and its 52-week highest is $17.28. The company's quick ratio is 1.43, its current ratio is 1.43, and it has a debt to equity ratio of 0.59. The 50-day moving average is $5.07, and the 200-day moving average is $6.56. The company announced its last quarterly earnings on March 8th. The company's $0.07 per share earnings for the third quarter fell short of analysts' expectations by $0.10, by $0.03. CI&T's return on equity was 18.51%, and its net margin was 5.74%. CI&T had a revenue of $116.26 millions during the third quarter, which was higher than analysts' expectations of $105.62 million. Research analysts expect CI&T to post an average of 0.32 EPS in the current year.
Hedge Funds weigh in on CI&T
Recently, several hedge funds and institutional investors changed their holdings in the company. Verdence Capital Advisors LLC purchased a new position of CI&T in the third quarter, valued at about $95,000. FDx Advisors Inc. purchased a new share of CI&T in the fourth quarter, valued at about $96,000. Sei Investments Co. bought a new stake of $118, 000 in CI&T during the second quarter. LPL Financial LLC purchased a new stake of $168,000. Citadel Advisors LLC also purchased a position in CI&T for $192,000 during the second quarter. Institutional investors own 9.36% the shares.
Analysts set new price targets
Separately JPMorgan Chase & Co. reduced their price target on shares of CI&T, from $8.00 down to $7.00, and assigned a 'neutral rating' for the company. This was in a Thursday, 9th March research note.
CI&T Company Overview
CI&T Inc., along with its subsidiaries provides software engineering, strategy and design services to enterprises around the world. It creates customized software by implementing software solutions that include machine learning, artificial Intelligence, analytics, cloud, and mobility technologies.
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