Inter & Co. Inc. (NASDAQ:INTR) Shares Gap Down – Here’s Why

Inter & Co. Inc. (NASDAQ:INTR) shares gapped down before the market opened on Tuesday. The stock had previously closed at $7.74, but opened at $7.38. Inter & Co. Inc. shares last traded at $7.5540, with a volume of 2,156,786 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on INTR shares. UBS Group decreased their price objective on shares of Inter & Co. Inc. from $9.40 to $8.80 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Inter & Co. Inc. in a research report on Tuesday, October 6th. JPMorgan Chase & Co. upped their price target on Inter & Co. Inc. from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Tuesday, October 6th. Finally, Zacks Research cut Inter & Co. Inc. from a “hold” rating to a “strong sell” rating in a report on Friday. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Inter & Co. Inc. presently has a consensus rating of “Hold” and an average price target of $9.56.

Inter & Co. Inc. Stock Down 2.6%

The company has a market capitalization of $3.33 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 0.38 and a beta of 0.94. The company has a 50-day moving average of $5.65 and a two-hundred day moving average of $6.18. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.08.

Inter & Co. Inc. (NASDAQ:INTR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $475.45 million during the quarter, compared to analyst estimates of $513.31 million. Inter & Co. Inc. had a return on equity of 14.94% and a net margin of 11.23%. On average, research analysts predict that Inter & Co. Inc. will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INTR. Caitong International Asset Management Co. Ltd raised its position in Inter & Co. Inc. by 27,583.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 13,288 shares of the company’s stock worth $113,000 after buying an additional 13,240 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Inter & Co. Inc. by 15.3% during the first quarter. Quantinno Capital Management LP now owns 16,783 shares of the company’s stock valued at $134,000 after purchasing an additional 2,230 shares during the period. Lazard Asset Management LLC bought a new position in shares of Inter & Co. Inc. in the first quarter worth approximately $182,000. The Manufacturers Life Insurance Company bought a new position in Inter & Co. Inc. in the 1st quarter worth $192,000. Finally, Entropy Technologies LP purchased a new position in shares of Inter & Co. Inc. in the first quarter worth $214,000. 22.90% of the stock is owned by institutional investors.

About Inter & Co. Inc.

Inter & Co Inc is a technology and financial services company that operates the Inter platform, a digital banking and commerce ecosystem serving customers primarily in Brazil. The company provides financial products through a mobile application designed to bring banking, payments and other consumer services together in one platform.

Its offerings include digital checking accounts, payment services, credit cards, personal and payroll loans, mortgages, insurance, foreign-exchange services and investment products.