Inter & Co, Inc. (NASDAQ:INTR) Short Interest Up 18.6% in November

Inter & Co, Inc. (NASDAQ:INTR) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 6,000,000 shares, a growth of 18.6% from the November 15th total of 5,060,000 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average daily volume of 1,590,000 shares, the short-interest ratio is currently 3.8 days.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut their target price on Inter & Co, Inc. from $8.50 to $7.20 and set an “overweight” rating on the stock in a research report on Friday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Inter & Co, Inc. presently has an average rating of “Buy” and a consensus target price of $7.30.

Inter & Co, Inc. Trading Up 2.7 %

Inter & Co, Inc. stock traded up $0.12 during mid-day trading on Friday, hitting $4.63. The company’s stock had a trading volume of 1,794,573 shares, compared to its average volume of 1,505,972. 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 company has a 50 day moving average of $5.85 and a 200-day moving average of $6.36. Inter & Co, Inc. has a one year low of $4.27 and a one year high of $7.84. The stock has a market cap of $2.01 billion, a PE ratio of 13.23 and a beta of 1.24.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in INTR. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 1,361,258 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Inter & Co, Inc. during the 3rd quarter worth $103,000. Nomura Asset Management Co. Ltd. bought a new stake in Inter & Co, Inc. during the 3rd quarter valued at $180,000. State Street Corp lifted its holdings in shares of Inter & Co, Inc. by 254.0% in the 3rd quarter. State Street Corp now owns 3,339,841 shares of the company’s stock worth $22,243,000 after buying an additional 2,396,448 shares during the period. Finally, Atom Investors LP bought a new position in shares of Inter & Co, Inc. during the 3rd quarter worth $71,000. 22.90% of the stock is currently owned by institutional investors.

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.