Thoughtworks (NASDAQ:TWKS) Sees Unusually-High Trading Volume

Thoughtworks Holding, Inc. (NASDAQ:TWKS) shares saw unusually-strong trading volume on Wednesday . Approximately 1,105,247 shares were traded during trading, a decline of 14% from the previous session’s volume of 1,281,437 shares.The stock last traded at $4.41 and had previously closed at $4.35.

Analyst Ratings Changes

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

Thoughtworks Stock Performance

The stock has a 50-day simple moving average of $3.58 and a 200-day simple moving average of $3.06. The stock has a market cap of $1.42 billion, a PE ratio of -15.14 and a beta of 1.14. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.59 and a quick ratio of 2.59.

Thoughtworks (NASDAQ:TWKS) last posted its earnings results on Monday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. Thoughtworks had a negative return on equity of 5.81% and a negative net margin of 11.20%. The business had revenue of $251.70 million for the quarter, compared to analyst estimates of $251.37 million. During the same period last year, the company posted ($0.01) EPS. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. Equities analysts predict that Thoughtworks Holding, Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TWKS. Catalina Capital Group LLC purchased a new stake in Thoughtworks during the 1st quarter worth $26,000. Algert Global LLC acquired a new position in shares of Thoughtworks in the 2nd quarter valued at approximately $33,000. Duality Advisers LP purchased a new position in shares of Thoughtworks during the 1st quarter valued at approximately $36,000. Simplicity Wealth LLC acquired a new position in Thoughtworks during the 2nd quarter worth $44,000. Finally, SG Americas Securities LLC bought a new stake in shares of Thoughtworks in the 2nd quarter worth about $71,000. 32.81% of the stock is owned by hedge funds and other institutional investors.

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.