Inter & Co, Inc. (NASDAQ:INTR) Shares Gap Up – Here’s What Happened

Inter & Co, Inc. (NASDAQ:INTR) gapped up prior to trading on Tuesday . The stock had previously closed at $4.30, but opened at $4.53. Inter & Co, Inc. shares last traded at $4.47, with a volume of 174,621 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised shares of Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $7.50 to $8.50 in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $7.56.

Inter & Co, Inc. Stock Performance

The stock has a market capitalization of $1.98 billion, a P/E ratio of 12.29 and a beta of 1.25. The stock has a 50 day simple moving average of $5.98 and a two-hundred day simple moving average of $6.41. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Inter & Co, Inc.

Institutional investors have recently added to or reduced their stakes in the company. Atom Investors LP bought a new position in shares of Inter & Co, Inc. in the 3rd quarter valued at about $71,000. Allspring Global Investments Holdings LLC bought a new position in Inter & Co, Inc. during the third quarter worth about $91,000. Public Employees Retirement System of Ohio acquired a new position in Inter & Co, Inc. during the third quarter worth approximately $103,000. Walleye Capital LLC bought a new stake in Inter & Co, Inc. in the third quarter valued at approximately $162,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Inter & Co, Inc. during the 3rd quarter worth approximately $163,000. 22.90% of the stock is currently owned by institutional investors and hedge funds.

About Inter & Co, Inc.

Inter & Co, Inc, through its subsidiaries, engages in the banking and spending, investments, insurance brokerage businesses. The company's Banking & Spending segment offers banking products and services, including checking accounts, cards, deposits, loans and advances, and other services.