ITG Inc. (NASDAQ:ITG) Sees Large Increase in Short Interest

ITG Inc. (NASDAQ:ITG) saw a large increase in short interest in the month of 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. Currently, 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 182,240 shares, the short-interest ratio is currently 3.1 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ITG shares. UBS Group initiated coverage on shares of ITG in a research report on Monday, July 27th. They set a “buy” rating and a $18.00 target price on the stock. KeyCorp started coverage on ITG in a report on Monday, July 27th. They issued an “overweight” rating and a $17.00 price target for the company. Weiss Ratings assumed coverage on ITG in a research note on Friday, September 25th. They issued a “sell (e-)” rating on the stock. Wall Street Zen downgraded ITG from a “buy” rating to a “hold” rating in a report on Sunday, September 13th. Finally, Stifel Nicolaus began coverage on ITG in a research report on Monday, July 27th. They set a “buy” rating and a $16.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.56.

ITG Trading Down 5.4%

NASDAQ ITG opened at $7.36 on Thursday. ITG has a one year low of $7.06 and a one year high of $19.26. The firm’s 50-day simple moving average is $12.32.

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

About ITG

Investment Technology Group, Inc (formerly NASDAQ: ITG) was a financial technology and agency brokerage company that provided execution, research and analytics services to institutional investors. The company focused on helping asset managers and other professional investors trade equities and manage transaction costs.

ITG’s offerings included electronic trading platforms, algorithmic order-execution tools, transaction-cost analysis, liquidity management and institutional brokerage services.