StoneCo (NASDAQ:STNE) Hits New 12-Month Low – Here’s Why

StoneCo Ltd. (NASDAQ:STNE)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $9.06 and last traded at $9.06, with a volume of 1687868 shares traded. The stock had previously closed at $9.18.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on STNE shares. Susquehanna reduced their target price on shares of StoneCo from $22.00 to $19.00 and set a “positive” rating for the company in a report on Wednesday, November 13th. Cantor Fitzgerald upgraded StoneCo to a “strong-buy” rating in a research report on Thursday, October 3rd. Morgan Stanley reissued an “underweight” rating and set a $7.00 price target (down previously from $16.50) on shares of StoneCo in a report on Thursday, September 5th. Barclays decreased their price objective on StoneCo from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Finally, UBS Group boosted their price objective on StoneCo from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.89.

StoneCo Stock Performance

The business has a fifty day simple moving average of $10.66 and a two-hundred day simple moving average of $12.03. The company has a market cap of $2.80 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 0.32 and a beta of 2.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 1.42.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Synovus Financial Corp lifted its stake in shares of StoneCo by 100.0% during the third quarter. Synovus Financial Corp now owns 29,228 shares of the company’s stock worth $329,000 after buying an additional 14,614 shares during the period. Tidal Investments LLC acquired a new stake in StoneCo during the 3rd quarter worth about $567,000. Sanctuary Advisors LLC purchased a new stake in StoneCo during the 3rd quarter valued at about $156,000. Invst LLC increased its holdings in shares of StoneCo by 43.1% in the third quarter. Invst LLC now owns 32,759 shares of the company’s stock valued at $369,000 after purchasing an additional 9,867 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of StoneCo by 36.0% in the third quarter. Geode Capital Management LLC now owns 5,190,344 shares of the company’s stock valued at $58,302,000 after purchasing an additional 1,374,788 shares during the period. 73.19% of the stock is currently owned by hedge funds and other institutional investors.

StoneCo Company Profile

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.