Nvni Group Limited (NASDAQ:NVNI) Short Interest Down 44.5% in June

Nvni Group Limited (NASDAQ:NVNI) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 541,557 shares, a drop of 44.5% from the June 15th total of 975,790 shares. Based on an average daily volume of 68,868 shares, the short-interest ratio is currently 7.9 days. Currently, 6.7% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

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.com, Nvni Group currently has an average rating of “Sell”.

Institutional Trading of Nvni Group

A number of large investors have recently made changes to their positions in NVNI. Jane Street Group LLC acquired a new stake in Nvni Group during the 2nd quarter worth $40,000. Turim 21 Investimentos Ltda. grew 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 acquiring an additional 18,847 shares during the period. Finally, Narus Financial Partners LLC grew its stake in Nvni Group by 71.8% in the third quarter. Narus Financial Partners LLC now owns 35,400 shares of the company’s stock valued at $29,000 after acquiring an additional 14,800 shares during the period. Institutional investors own 0.49% of the company’s stock.

Nvni Group Stock Down 3.1%

Nvni Group stock traded down $0.05 during midday trading on Thursday, hitting $1.56. 151,933 shares of the stock were exchanged, compared to its average volume of 428,996. The company has a fifty day simple moving average of $1.07 and a two-hundred day simple moving average of $1.49. Nvni Group has a 52 week low of $0.77 and a 52 week high of $16.40. The stock has a market capitalization of $15.65 million, a PE ratio of 3.90 and a beta of -0.06.

Nvni Group (NASDAQ:NVNI) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.67). The company had revenue of $8.80 million for the quarter, compared to analysts’ expectations of $15.73 million.

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.