Short Interest in StoneCo Ltd (NASDAQ:STNE) Expands By 19.9%

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StoneCo Ltd (NASDAQ:STNE) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 13,140,000 shares, an increase of 19.9% from the August 30th total of 10,960,000 shares. Based on an average daily volume of 2,280,000 shares, the days-to-cover ratio is currently 5.8 days. Currently, 11.5% of the shares of the company are short sold.

STNE traded down $0.93 during trading on Tuesday, hitting $34.06. The stock had a trading volume of 940,699 shares, compared to its average volume of 1,680,384. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $9.46 billion and a P/E ratio of 103.21. The company’s 50-day moving average price is $33.40 and its 200 day moving average price is $31.65. StoneCo has a twelve month low of $16.14 and a twelve month high of $45.62.

StoneCo (NASDAQ:STNE) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $149.52 million for the quarter. StoneCo had a net margin of 27.40% and a return on equity of 10.16%. As a group, equities analysts expect that StoneCo will post 0.73 earnings per share for the current fiscal year.

Several research firms recently commented on STNE. Zacks Investment Research downgraded shares of StoneCo from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Guggenheim began coverage on shares of StoneCo in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $38.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of StoneCo from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $39.00 price target (up previously from $33.00) on shares of StoneCo in a research report on Thursday, August 15th. Finally, ValuEngine downgraded shares of StoneCo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $35.89.

Large investors have recently bought and sold shares of the company. Focused Wealth Management Inc acquired a new position in shares of StoneCo during the 2nd quarter worth $30,000. US Bancorp DE acquired a new position in shares of StoneCo during the 2nd quarter worth $36,000. Tortoise Index Solutions LLC grew its stake in shares of StoneCo by 210.8% during the 2nd quarter. Tortoise Index Solutions LLC now owns 1,691 shares of the company’s stock worth $50,000 after purchasing an additional 1,147 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of StoneCo by 109.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,214 shares of the company’s stock worth $65,000 after purchasing an additional 1,156 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of StoneCo by 253.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,883 shares of the company’s stock worth $115,000 after purchasing an additional 2,783 shares during the period. 41.93% of the stock is currently owned by institutional investors and hedge funds.

StoneCo Company Profile

StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale.

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