Thoughtworks (NASDAQ:TWKS) Sees Strong Trading Volume – Here’s Why

by · The Markets Daily

Thoughtworks Holding, Inc. (NASDAQ:TWKS – Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 5,622,934 shares changed hands during trading, an increase of 205% from the previous session’s volume of 1,841,582 shares.The stock last traded at $4.51 and had previously closed at $4.49.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TWKS shares. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Thoughtworks in a research note on Tuesday, August 6th. Piper Sandler lifted their price target on shares of Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Baird R W downgraded shares of Thoughtworks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $4.40 price target on shares of Thoughtworks in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.18.

Read Our Latest Analysis on TWKS

Thoughtworks Stock Performance

The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $4.42 and its 200 day moving average is $3.63. The stock has a market capitalization of $1.44 billion, a PE ratio of -12.47 and a beta of 1.13.

Hedge Funds Weigh In On Thoughtworks

A number of large investors have recently made changes to their positions in TWKS. Duality Advisers LP bought a new position in shares of Thoughtworks during the 1st quarter worth approximately $36,000. Inspire Investing LLC acquired a new stake in shares of Thoughtworks in the first quarter valued at about $360,000. State Board of Administration of Florida Retirement System increased its position in Thoughtworks by 52.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 40,246 shares of the company’s stock worth $102,000 after purchasing an additional 13,826 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Thoughtworks by 1.0% during the first quarter. Vanguard Group Inc. now owns 11,446,418 shares of the company’s stock valued at $28,959,000 after acquiring an additional 112,782 shares during the last quarter. Finally, Summit Creek Advisors LLC boosted its stake in shares of Thoughtworks by 0.7% in the first quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock valued at $3,379,000 after purchasing an additional 8,986 shares during the period. 32.81% of the stock is owned by hedge funds and other institutional investors.

Thoughtworks Company Profile

(Get Free Report)

Thoughtworks Holding, Inc provides technology consultancy services in North America, the Asia Pacific, Europe, and Latin America. The company’s consultancy services integrate strategy, design, and software engineering to enable enterprises and technology disruptors to thrive as modern digital businesses.

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