Nvni Group Limited (NASDAQ:NVNI) Short Interest Down 44.5% in June

Nvni Group Limited (NASDAQ:NVNI) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 541,557 shares, a decline of 44.5% from the June 15th total of 975,790 shares. Based on an average daily volume of 68,868 shares, the days-to-cover ratio is presently 7.9 days. Approximately 6.7% of the company’s stock are sold short.

Nvni Group Stock Performance

NASDAQ NVNI traded down $0.05 on Thursday, reaching $1.56. The company had a trading volume of 151,933 shares, compared to its average volume of 428,996. The firm has a market capitalization of $15.65 million, a price-to-earnings ratio of 3.90 and a beta of -0.06. Nvni Group has a 1-year low of $0.77 and a 1-year high of $16.40. The company’s fifty day moving average is $1.07 and its 200-day moving average is $1.49.

Nvni Group (NASDAQ:NVNI) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.67). The business had revenue of $8.80 million during the quarter, compared to analysts’ expectations of $15.73 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Nvni Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Nvni Group presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Nvni Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Narus Financial Partners LLC lifted its stake in Nvni Group by 71.8% in the 3rd quarter. Narus Financial Partners LLC now owns 35,400 shares of the company’s stock valued at $29,000 after acquiring an additional 14,800 shares in the last quarter. Turim 21 Investimentos Ltda. grew its stake in shares of Nvni Group by 50.9% during the 3rd quarter. Turim 21 Investimentos Ltda. now owns 55,870 shares of the company’s stock worth $46,000 after acquiring an additional 18,847 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Nvni Group during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 0.49% of the company’s stock.

Nvni Group Company Profile

Nvni Group Limited provides a business to business SaaS platform that offers cloud solutions. The company was incorporated in 2019 and is based in São Paulo, Brazil.