Netshoes Cayman (NYSE:NETS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Netshoes (Cayman) Limited is a sports and lifestyle online retailer primarily in Latin America. The company’s product includes athletic shoes, jerseys, apparels, accessories and sporting equipment of international, local and private brands as well as fashion. It operates primarily in Brazil, Argentina and Mexico. Netshoes (Cayman) Limited is headquartered in São Paulo, Brazil. “

Separately, Jefferies Group cut shares of Netshoes Cayman from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $21.90.

Shares of Netshoes Cayman (NYSE:NETS) traded down $0.04 during midday trading on Tuesday, reaching $6.06. 178,784 shares of the company traded hands, compared to its average volume of 152,871. Netshoes Cayman has a twelve month low of $5.70 and a twelve month high of $26.96. The company has a current ratio of 1.63, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34.

A number of large investors have recently bought and sold shares of NETS. Tiger Global Management LLC purchased a new stake in Netshoes Cayman in the 2nd quarter valued at about $168,718,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in Netshoes Cayman in the 2nd quarter valued at about $24,404,000. Lord Abbett & CO. LLC purchased a new stake in Netshoes Cayman in the 2nd quarter valued at about $17,846,000. ICONIQ Capital LLC purchased a new stake in Netshoes Cayman in the 2nd quarter valued at about $13,101,000. Finally, Kora Management LP purchased a new stake in Netshoes Cayman in the 2nd quarter valued at about $9,229,000. Hedge funds and other institutional investors own 61.51% of the company’s stock.

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About Netshoes Cayman

Netshoes (Cayman) Limited is a sports and lifestyle online retailer in Latin America. The Company focuses on offering an online consumer platform in Latin America. The Company operates through two segments: Brazil and International. The Company operates in Brazil, Argentina, and Mexico. The Brazil segment consists of retail sales of consumer products from all of its verticals (which includes sales of sporting goods and related garments, as well as fashion and beauty goods) carried out through its sites Netshoes.com.br and Zattini.com.br and third-party sites that it manages, as well as its business to business offline operation.

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