Nvni Group Limited (NASDAQ:NVNI) Short Interest Up 447.8% in June
by Tristan Rich · The Markets DailyNvni Group Limited (NASDAQ:NVNI – Get Free Report) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totaling 975,790 shares, a growth of 447.8% from the May 31st total of 178,128 shares. Based on an average daily volume of 2,331,218 shares, the days-to-cover ratio is currently 0.4 days. Currently, 12.2% of the company’s stock are sold short.
Hedge Funds Weigh In On Nvni Group
A number of institutional investors and hedge funds have recently modified their holdings of NVNI. Narus Financial Partners LLC grew its stake in shares of Nvni Group by 71.8% during the third quarter. Narus Financial Partners LLC now owns 35,400 shares of the company’s stock worth $29,000 after purchasing an additional 14,800 shares in the last quarter. Turim 21 Investimentos Ltda. raised its stake in Nvni Group by 50.9% in the third quarter. Turim 21 Investimentos Ltda. now owns 55,870 shares of the company’s stock valued at $46,000 after buying an additional 18,847 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Nvni Group in the second quarter valued at $40,000. Institutional investors and hedge funds own 0.49% of the company’s stock.
Nvni Group Stock Down 1.0%
Shares of NASDAQ:NVNI opened at $0.96 on Friday. Nvni Group has a fifty-two week low of $0.77 and a fifty-two week high of $16.40. The firm’s 50 day moving average price is $1.14 and its 200 day moving average price is $1.70. The stock has a market cap of $9.63 million, a price-to-earnings ratio of 2.40 and a beta of -0.10.
Nvni Group (NASDAQ:NVNI – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.67). The business had revenue of $8.80 million for the quarter, compared to the consensus estimate of $15.73 million.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings downgraded Nvni Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Nvni Group has an average rating of “Sell”.
Read Our Latest Stock Analysis on Nvni Group
About Nvni Group
Nvni Group Limited provides a business to business SaaS platform that offers cloud solutions. The company was incorporated in 2019 and is based in São Paulo, Brazil.