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

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

Inter & Co, Inc. Stock Down 1.6 %

Shares of INTR traded down $0.07 on Monday, reaching $4.18. The stock had a trading volume of 327,858 shares, compared to its average volume of 1,523,863. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.87 and a current ratio of 0.87. Inter & Co, Inc. has a 12-month low of $3.88 and a 12-month high of $7.84. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 11.94 and a beta of 1.24. The company has a 50-day simple moving average of $5.41 and a 200-day simple moving average of $6.24.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. decreased their price target on 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 equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $7.30.

Hedge Funds Weigh In On Inter & Co, Inc.

A number of institutional investors have recently added to or reduced their stakes in INTR. State Street Corp increased its stake in shares of Inter & Co, Inc. by 254.0% during the third quarter. State Street Corp now owns 3,339,841 shares of the company’s stock valued at $22,243,000 after purchasing an additional 2,396,448 shares in the last quarter. Millennium Management LLC grew its stake in shares of Inter & Co, Inc. by 70.7% in the 2nd quarter. Millennium Management LLC now owns 4,512,367 shares of the company’s stock worth $27,751,000 after buying an additional 1,868,527 shares during the last quarter. Fourth Sail Capital LP bought a new position in Inter & Co, Inc. during the 3rd quarter valued at approximately $9,313,000. Marshall Wace LLP raised its stake in Inter & Co, Inc. by 152.9% during the second quarter. Marshall Wace LLP now owns 2,309,503 shares of the company’s stock valued at $14,203,000 after buying an additional 1,396,317 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Inter & Co, Inc. by 436.9% during the third quarter. Geode Capital Management LLC now owns 1,672,833 shares of the company’s stock valued at $11,060,000 after buying an additional 1,361,258 shares during the last quarter. Institutional investors own 22.90% of the company’s stock.

Inter & Co, Inc. Company Profile

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.