Inter & Co, Inc. (NASDAQ:INTR) Sees Significant Growth in Short Interest

Inter & Co, Inc. (NASDAQ:INTR) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 8,820,000 shares, a growth of 47.0% from the November 30th total of 6,000,000 shares. Based on an average trading volume of 1,770,000 shares, the short-interest ratio is currently 5.0 days. Currently, 4.3% of the company’s shares are sold short.

Institutional Trading of Inter & Co, Inc.

Large investors have recently made changes to their positions in the company. Atom Investors LP bought a new position in Inter & Co, Inc. in the third quarter worth approximately $71,000. Squarepoint Ops LLC lifted its holdings in shares of Inter & Co, Inc. by 46.4% in the 2nd quarter. Squarepoint Ops LLC now owns 37,708 shares of the company’s stock worth $232,000 after purchasing an additional 11,949 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Inter & Co, Inc. in the 3rd quarter valued at $91,000. Public Employees Retirement System of Ohio bought a new stake in shares of Inter & Co, Inc. during the third quarter worth about $103,000. Finally, Walleye Capital LLC bought a new stake in Inter & Co, Inc. during the 3rd quarter worth approximately $162,000. 22.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced their price objective on shares of Inter & Co, Inc. from $8.50 to $7.20 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $7.30.

Inter & Co, Inc. Stock Down 1.9 %

Shares of Inter & Co, Inc. stock traded down $0.08 during trading on Monday, reaching $4.17. 176,924 shares of the company traded hands, compared to its average volume of 1,522,956. The firm has a market capitalization of $1.81 billion, a PE ratio of 11.91 and a beta of 1.24. Inter & Co, Inc. has a 1-year low of $3.88 and a 1-year high of $7.84. The company has a 50 day moving average price of $5.41 and a 200-day moving average price of $6.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.87 and a quick ratio of 0.87.

About Inter & Co, Inc.

Inter & Co, Inc, through its subsidiaries, engages in the banking and spending, investments, insurance brokerage businesses. The company's Banking & Spending segment offers banking products and services, including checking accounts, cards, deposits, loans and advances, and other services.