Inter & Co. Inc. (NASDAQ:INTR) Stock Short Interest Climbs 89.2%

Inter & Co. Inc. (NASDAQ:INTR) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 15,906,625 shares, a growth of 89.2% from the September 30th total of 8,409,464 shares. Approximately 3.6% of the shares of the company are sold short. Based on an average daily volume of 12,625,600 shares, the short-interest ratio is currently 1.3 days.

Institutional Investors Weigh In On Inter & Co. Inc.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Inter & Co. Inc. by 16.2% during the second quarter. Wellington Management Group LLP now owns 6,472,694 shares of the company’s stock valued at $35,147,000 after purchasing an additional 904,682 shares in the last quarter. Squadra Investments Gestao DE Recursos LTDA. boosted its position in shares of Inter & Co. Inc. by 1.1% in the first quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 6,320,952 shares of the company’s stock worth $50,315,000 after purchasing an additional 67,500 shares during the period. SPX Gestao de Recursos Ltda increased its stake in shares of Inter & Co. Inc. by 1,059.2% in the first quarter. SPX Gestao de Recursos Ltda now owns 4,023,802 shares of the company’s stock worth $32,029,000 after purchasing an additional 3,676,696 shares in the last quarter. Navi International Administradora e Gestora de Recursos Financeiros Ltda. purchased a new stake in shares of Inter & Co. Inc. in the second quarter worth $13,267,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Inter & Co. Inc. by 7.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,433,539 shares of the company’s stock valued at $19,371,000 after purchasing an additional 170,649 shares during the period. 22.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group set a $9.00 price target on shares of Inter & Co. Inc. in a research report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Inter & Co. Inc. in a report on Tuesday, October 6th. Zacks Research downgraded shares of Inter & Co. Inc. from a “hold” rating to a “strong sell” rating in a report on Friday, October 9th. JPMorgan Chase & Co. boosted their target price on shares of 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, UBS Group upped their target price on shares of Inter & Co. Inc. from $8.80 to $10.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Inter & Co. Inc. presently has a consensus rating of “Hold” and an average price target of $9.30.

Inter & Co. Inc. Stock Performance

NASDAQ INTR traded up $0.02 on Monday, hitting $4.03. 9,645,029 shares of the company traded hands, compared to its average volume of 5,802,219. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 6.11, a P/E/G ratio of 0.20 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average price is $5.84 and its 200-day moving average price is $6.80. Inter & Co. Inc. has a 52-week low of $3.92 and a 52-week high of $10.36.

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

About Inter & Co. Inc.

Inter & Co Inc is a technology and financial services company that operates the Inter platform, a digital ecosystem serving consumers and businesses primarily in Brazil. Through its digital banking operations, the company offers products and services that may include checking and payment accounts, debit and credit cards, personal and business lending, investments, insurance, and foreign-exchange services.

Beyond banking, Inter’s platform includes marketplace and shopping services, as well as travel-related offerings.