Thoughtworks Holding, Inc. (NASDAQ:TWKS) Short Interest Update

Thoughtworks Holding, Inc. (NASDAQ:TWKS) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 8,700,000 shares, a growth of 145.1% from the September 30th total of 3,550,000 shares. Based on an average trading volume of 3,820,000 shares, the short-interest ratio is presently 2.3 days. Approximately 10.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Baird R W lowered Thoughtworks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Citigroup reduced their price objective on Thoughtworks from $3.25 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Robert W. Baird restated a “neutral” rating and set a $4.40 price objective on shares of Thoughtworks in a research report on Tuesday, August 6th. Piper Sandler lifted their target price on Thoughtworks from $3.40 to $4.40 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Thoughtworks in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Thoughtworks currently has an average rating of “Hold” and a consensus price target of $4.18.

Thoughtworks Stock Performance

Shares of NASDAQ:TWKS remained flat at $4.45 during midday trading on Monday. The stock had a trading volume of 2,801,783 shares, compared to its average volume of 1,742,866. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -12.36 and a beta of 1.15. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average of $4.40 and a 200 day moving average of $3.47. Thoughtworks has a 12 month low of $2.19 and a 12 month high of $5.20.

Thoughtworks (NASDAQ:TWKS) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $251.70 million during the quarter, compared to analyst estimates of $251.37 million. Thoughtworks had a negative net margin of 11.20% and a negative return on equity of 5.81%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) earnings per share. As a group, research analysts anticipate that Thoughtworks will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Thoughtworks by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 11,446,418 shares of the company’s stock worth $28,959,000 after buying an additional 112,782 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Thoughtworks by 0.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,017,364 shares of the company’s stock worth $28,449,000 after buying an additional 59,037 shares during the period. SG Americas Securities LLC raised its stake in Thoughtworks by 13,157.3% during the 3rd quarter. SG Americas Securities LLC now owns 3,319,896 shares of the company’s stock worth $14,674,000 after buying an additional 3,294,854 shares during the period. 272 Capital LP raised its stake in Thoughtworks by 29.4% during the 2nd quarter. 272 Capital LP now owns 1,423,569 shares of the company’s stock worth $4,043,000 after buying an additional 323,751 shares during the period. Finally, Summit Creek Advisors LLC raised its stake in Thoughtworks by 0.7% during the 1st quarter. Summit Creek Advisors LLC now owns 1,335,630 shares of the company’s stock worth $3,379,000 after buying an additional 8,986 shares during the period. 32.81% of the stock is owned by institutional investors and hedge funds.

Thoughtworks Company Profile

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.