Arco Platform Limited (NASDAQ:ARCE) Sees Large Decline in Short Interest

Arco Platform Limited (NASDAQ:ARCE) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 1,210,000 shares, a decline of 21.4% from the August 15th total of 1,540,000 shares. Based on an average trading volume of 289,000 shares, the days-to-cover ratio is presently 4.2 days. Currently, 4.8% of the company’s stock are sold short.

Arco Platform Stock Down 0.1 %

NASDAQ:ARCE opened at $13.75 on Friday. The firm has a market capitalization of $768.76 million, a PE ratio of -98.21 and a beta of 0.49. The stock has a 50 day moving average of $13.16 and a 200-day moving average of $12.45. Arco Platform has a 52 week low of $7.85 and a 52 week high of $14.22. The company has a current ratio of 1.26, a quick ratio of 1.06 and a debt-to-equity ratio of 0.65.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered Arco Platform from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $17.00 to $14.00 in a report on Thursday.

Hedge Funds Weigh In On Arco Platform

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new stake in Arco Platform in the third quarter worth approximately $43,000. UBS Group AG boosted its holdings in Arco Platform by 153.3% during the fourth quarter. UBS Group AG now owns 4,828 shares of the company’s stock valued at $65,000 after acquiring an additional 2,922 shares during the period. Van ECK Associates Corp boosted its holdings in Arco Platform by 14.6% during the first quarter. Van ECK Associates Corp now owns 6,951 shares of the company’s stock valued at $76,000 after acquiring an additional 888 shares during the period. Fifth Lane Capital LP bought a new stake in Arco Platform during the second quarter valued at about $152,000. Finally, Citadel Advisors LLC bought a new stake in Arco Platform during the second quarter valued at about $181,000.

Arco Platform Company Profile

Arco Platform Limited, a technology company in the education sector, provides a pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil. The company's curriculum solutions provide educational content from basic to secondary education K-12 curriculum in printed and digital formats delivered through its platform.