ITG Inc. (NASDAQ:ITG) Shares Shorted: Short Interest Up 52.0% in September

ITG Inc. (NASDAQ:ITG) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totaling 568,503 shares, an increase of 52.0% from the August 31st total of 373,901 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily volume of 182,240 shares, the days-to-cover ratio is presently 3.1 days.

ITG Stock Down 2.2%

Shares of ITG stock opened at $6.86 on Friday. ITG has a 52 week low of $7.01 and a 52 week high of $19.26. The business’s 50-day moving average is $12.18.

ITG (NASDAQ:ITG) last issued its quarterly earnings data on Monday, June 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $333.92 million for the quarter. On average, research analysts forecast that ITG will post 0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ITG. Robert W. Baird assumed coverage on shares of ITG in a research note on Monday, July 27th. They issued an “outperform” rating and a $19.00 target price for the company. Weiss Ratings started coverage on shares of ITG in a research note on Friday, September 25th. They issued a “sell (e-)” rating for the company. UBS Group initiated coverage on shares of ITG in a research note on Monday, July 27th. They set a “buy” rating and a $18.00 price objective on the stock. Citigroup initiated coverage on shares of ITG in a research note on Monday, July 27th. They issued a “buy” rating and a $17.00 target price for the company. Finally, KeyCorp began coverage on ITG in a research report on Monday, July 27th. They set an “overweight” rating and a $17.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.56.

ITG Company Profile

Investment Technology Group, Inc (NASDAQ: ITG) was a financial technology and brokerage company that provided electronic trading, transaction research and investment technology services to institutional investors. Its offerings were designed to help asset managers, hedge funds and other professional investors execute trades, analyze market activity and manage trading costs.

ITG operated trading platforms and alternative trading systems, including POSIT, an electronic crossing network that matched buy and sell orders.