Short Interest in DLocal Limited (NASDAQ:DLO) Declines By 8.9%

DLocal Limited (NASDAQ:DLO) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 13,380,000 shares, a decline of 8.9% from the October 15th total of 14,690,000 shares. Currently, 21.4% of the company’s stock are short sold. Based on an average trading volume of 1,240,000 shares, the days-to-cover ratio is currently 10.8 days.

Wall Street Analyst Weigh In

DLO has been the topic of a number of research reports. Barclays upped their target price on DLocal from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday. Bank of America increased their target price on shares of DLocal from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Susquehanna lowered their price target on shares of DLocal from $21.00 to $14.00 and set a “positive” rating on the stock in a report on Thursday, August 15th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.61.

DLocal Stock Up 4.4 %

Shares of DLO stock traded up $0.47 on Tuesday, hitting $11.04. The company’s stock had a trading volume of 911,573 shares, compared to its average volume of 1,604,619. DLocal has a fifty-two week low of $6.57 and a fifty-two week high of $19.45. The firm’s fifty day moving average price is $8.74 and its 200-day moving average price is $8.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 2.87 and a beta of 0.74.

DLocal (NASDAQ:DLO) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. DLocal had a net margin of 16.35% and a return on equity of 32.59%. The business had revenue of $185.80 million during the quarter, compared to analysts’ expectations of $181.47 million. During the same period in the previous year, the company earned $0.16 earnings per share. DLocal’s revenue for the quarter was up 13.4% on a year-over-year basis. Research analysts anticipate that DLocal will post 0.47 EPS for the current year.

Institutional Investors Weigh In On DLocal

Several hedge funds and other institutional investors have recently made changes to their positions in DLO. Fourth Sail Capital LP grew its holdings in DLocal by 60.8% in the 2nd quarter. Fourth Sail Capital LP now owns 2,397,770 shares of the company’s stock valued at $19,398,000 after buying an additional 906,561 shares during the last quarter. Sylebra Capital LLC bought a new position in DLocal during the second quarter worth $13,565,000. Baillie Gifford & Co. raised its stake in DLocal by 0.8% during the 3rd quarter. Baillie Gifford & Co. now owns 1,253,331 shares of the company’s stock valued at $10,027,000 after purchasing an additional 9,340 shares during the last quarter. Absolute Gestao de Investimentos Ltda. bought a new stake in DLocal in the 1st quarter valued at $9,949,000. Finally, Millennium Management LLC grew its position in DLocal by 151.2% in the 2nd quarter. Millennium Management LLC now owns 644,237 shares of the company’s stock worth $5,212,000 after purchasing an additional 387,762 shares during the last quarter. 90.13% of the stock is owned by institutional investors and hedge funds.

DLocal Company Profile

DLocal Limited operates a payment processing platform worldwide. The company offers pay-in solution which the business and get paid for their products and services through various payment methods, including international and local cards, online bank transfers and direct debit, cash, and alternative payment methods.