StoneCo Ltd. (NASDAQ:STNE) Short Interest Up 33.3% in December

by · The Markets Daily

StoneCo Ltd. (NASDAQ:STNE – Get Free Report) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 24,360,000 shares, an increase of 33.3% from the November 30th total of 18,280,000 shares. Based on an average daily volume of 4,940,000 shares, the short-interest ratio is presently 4.9 days.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Morgan Stanley reissued an “underweight” rating and issued a $7.00 price objective (down previously from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Cantor Fitzgerald upgraded shares of StoneCo to a “strong-buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price objective on shares of StoneCo from $21.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Susquehanna dropped their target price on StoneCo from $22.00 to $19.00 and set a “positive” rating on the stock in a research report on Wednesday, November 13th. Finally, Barclays reduced their price target on StoneCo from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.13.

Get Our Latest Stock Report on STNE

Institutional Trading of StoneCo

Institutional investors and hedge funds have recently modified their holdings of the business. Y.D. More Investments Ltd grew its holdings in shares of StoneCo by 90.2% during the second quarter. Y.D. More Investments Ltd now owns 4,798 shares of the company’s stock worth $58,000 after purchasing an additional 2,275 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in StoneCo in the 3rd quarter worth approximately $125,000. Point72 Hong Kong Ltd bought a new position in shares of StoneCo in the 2nd quarter worth $135,000. nVerses Capital LLC purchased a new stake in shares of StoneCo during the 2nd quarter valued at $137,000. Finally, Covestor Ltd lifted its holdings in shares of StoneCo by 40.9% during the 3rd quarter. Covestor Ltd now owns 13,350 shares of the company’s stock worth $150,000 after acquiring an additional 3,878 shares during the last quarter. Hedge funds and other institutional investors own 73.19% of the company’s stock.

StoneCo Price Performance

Shares of StoneCo stock traded down $0.07 during trading on Friday, hitting $8.19. The stock had a trading volume of 3,081,644 shares, compared to its average volume of 5,291,565. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.47. StoneCo has a 12 month low of $7.89 and a 12 month high of $19.46. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 6.40, a P/E/G ratio of 0.35 and a beta of 2.21. The business’s 50-day moving average is $9.94 and its 200 day moving average is $11.54.

About StoneCo

(Get Free Report)

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.

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