Short Interest in 3i Group plc - Unsponsored ADR (OTCMKTS:TGOPY) Drops By 24.4%

Key Points

• 3i Group plc experienced a significant 24.4% decrease in short interest, with a total of 126,600 shares shorted as of August 31st, down from 167,500 shares on August 15th.
• The stock opened at $13.00 and has a fifty-two week trading range between a low of $10.27 and a high of $15.08.
• Analysts have given 3i Group a consensus rating of "Moderate Buy," with one analyst recommending a Buy rating and another a Hold rating.

3i Group plc - Unsponsored ADR (OTCMKTS:TGOPY - Get Free Report) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 126,600 shares, a decrease of 24.4% from the August 15th total of 167,500 shares. Based on an average daily trading volume, of 568,300 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are short sold. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 568,300 shares, the days-to-cover ratio is currently 0.2 days.

3i Group Price Performance

3i Group stock traded down $0.36 during trading on Friday, reaching $13.24. The company had a trading volume of 523,231 shares, compared to its average volume of 369,085. The firm's 50-day simple moving average is $19.83 and its 200 day simple moving average is $24.51. 3i Group has a 1-year low of $10.27 and a 1-year high of $15.08.

Analysts Set New Price Targets

Several brokerages recently weighed in on TGOPY. Kepler Capital Markets upgraded shares of 3i Group to a "hold" rating in a report on Tuesday, July 8th. Sanford C. Bernstein began coverage on shares of 3i Group in a report on Thursday. They issued an "outperform" rating on the stock. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, 3i Group has an average rating of "Moderate Buy".

About 3i Group

3i Group plc is a private equity firm specializing in mature companies, growth capital, middle markets, infrastructure, and management leveraged buyouts and buy-ins. The firm also provides infrastructure financing and debt management. For debt management, it invests in senior and mezzanine corporate debt in typically large and private companies in United Kingdom, Europe, Asia, and North America.