Short Interest in AGI Inc (NYSE:AGBK) Decreases By 37.0%

AGI Inc (NYSE:AGBK) was the recipient of a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 962,739 shares, a decrease of 37.0% from the July 30th total of 1,529,138 shares. Based on an average daily trading volume, of 431,871 shares, the short-interest ratio is presently 2.2 days. Approximately 0.6% of the company’s stock are short sold.

AGI Stock Performance

AGBK stock traded up $0.39 during midday trading on Tuesday, reaching $6.60. 302,425 shares of the company were exchanged, compared to its average volume of 475,854. The company has a market capitalization of $1.06 billion and a P/E ratio of 11.19. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. AGI has a 1-year low of $5.91 and a 1-year high of $12.21. The company’s 50-day moving average price is $6.71.

Wall Street Analyst Weigh In

Several research analysts have commented on AGBK shares. Susquehanna set a $14.00 price target on shares of AGI in a report on Friday, May 8th. Zacks Research cut shares of AGI from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Weiss Ratings reissued a “sell (d)” rating on shares of AGI in a report on Friday, August 7th. The Goldman Sachs Group set a $13.00 price target on AGI in a report on Thursday, August 6th. Finally, Itau BBA Securities cut AGI from an “outperform” rating to a “market perform” rating and set a $9.00 price objective for the company. in a research report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.14.

About AGI

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.