Inter & Co, Inc. (NASDAQ:INTR) Short Interest Down 12.9% in October

Inter & Co, Inc. (NASDAQ:INTR) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 5,270,000 shares, a drop of 12.9% from the October 15th total of 6,050,000 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average daily volume of 2,020,000 shares, the days-to-cover ratio is presently 2.6 days.

Inter & Co, Inc. Trading Up 0.7 %

INTR stock traded up $0.04 on Monday, reaching $6.03. The company’s stock had a trading volume of 1,129,748 shares, compared to its average volume of 1,414,408. The firm has a market cap of $2.62 billion, a PE ratio of 17.09 and a beta of 1.52. The business has a fifty day simple moving average of $6.60 and a two-hundred day simple moving average of $6.51. Inter & Co, Inc. has a 12-month low of $4.32 and a 12-month high of $7.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.91 and a current ratio of 0.91.

Institutional Investors Weigh In On Inter & Co, Inc.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd increased its position in shares of Inter & Co, Inc. by 46.6% during the first quarter. Quadrature Capital Ltd now owns 101,888 shares of the company’s stock valued at $583,000 after buying an additional 32,370 shares during the period. Bayesian Capital Management LP purchased a new position in shares of Inter & Co, Inc. in the 1st quarter valued at approximately $180,000. Virtu Financial LLC bought a new stake in shares of Inter & Co, Inc. during the first quarter valued at approximately $346,000. Bank of Montreal Can purchased a new stake in Inter & Co, Inc. in the second quarter worth $1,954,000. Finally, Samlyn Capital LLC grew its stake in Inter & Co, Inc. by 4.1% in the second quarter. Samlyn Capital LLC now owns 4,994,031 shares of the company’s stock worth $30,713,000 after purchasing an additional 196,355 shares during the period. 22.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INTR has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and upped their price target for the company from $7.50 to $8.50 in a research report on Wednesday, October 9th. UBS Group lifted their target price 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $7.56.

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.