AGI Inc (NYSE:AGBK) Short Interest Update

AGI Inc (NYSE:AGBK) was the recipient of a significant drop in short interest in August. As of August 14th, there was short interest totaling 962,739 shares, a drop of 37.0% from the July 30th total of 1,529,138 shares. Based on an average daily volume of 431,871 shares, the days-to-cover ratio is currently 2.2 days. Approximately 0.6% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AGBK. Oppenheimer dropped their price objective on shares of AGI from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Zacks Research cut shares of AGI from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Itau BBA Securities downgraded shares of AGI from an “outperform” rating to a “market perform” rating and set a $9.00 price target for the company. in a research note on Wednesday, May 6th. Susquehanna set a $14.00 price target on shares of AGI in a report on Friday, May 8th. Finally, The Goldman Sachs Group set a $13.00 price objective on AGI in a report on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, AGI presently has a consensus rating of “Hold” and an average target price of $14.14.

AGI Price Performance

Shares of AGI stock traded up $0.21 during midday trading on Wednesday, reaching $6.84. The company had a trading volume of 115,575 shares, compared to its average volume of 473,179. The stock’s fifty day moving average is $6.70. AGI has a fifty-two week low of $5.91 and a fifty-two week high of $12.21. The stock has a market capitalization of $1.09 billion and a price-to-earnings ratio of 11.55. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31.

About AGI

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.