Inter & Co, Inc. (NASDAQ:INTR) Stock Price Down 3.8% – Here’s Why

Inter & Co, Inc. (NASDAQ:INTR) traded down 3.8% on Tuesday . The company traded as low as $5.80 and last traded at $5.80. 570,836 shares traded hands during trading, a decline of 60% from the average session volume of 1,410,642 shares. The stock had previously closed at $6.03.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on INTR shares. UBS Group raised their price objective on shares of Inter & Co, Inc. from $6.50 to $8.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upgraded Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $7.50 to $8.50 in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $7.56.

Inter & Co, Inc. Stock Down 6.1 %

The company has a market cap of $2.46 billion, a price-to-earnings ratio of 16.51 and a beta of 1.52. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.87 and a current ratio of 0.87. The business has a 50-day simple moving average of $6.58 and a 200-day simple moving average of $6.51.

Hedge Funds Weigh In On Inter & Co, Inc.

Hedge funds have recently made changes to their positions in the company. Atom Investors LP purchased a new position in shares of Inter & Co, Inc. during the third quarter worth approximately $71,000. Allspring Global Investments Holdings LLC acquired a new position in Inter & Co, Inc. in the third quarter valued at $91,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Inter & Co, Inc. in the third quarter valued at about $103,000. Walleye Capital LLC acquired a new stake in shares of Inter & Co, Inc. during the third quarter worth about $162,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Inter & Co, Inc. during the third quarter worth about $163,000. Hedge funds and other institutional investors own 22.90% of the company’s stock.

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.