ITG Inc. (NASDAQ:ITG) Short Interest Update

Key Points

• ITG’s short interest rose 52.7% to 295,976 shares as of August 14, representing 0.2% of shares outstanding and a days-to-cover ratio of 1.8.
• ITG shares traded at $12.20, below their 50-day moving average of $12.85 and within a 52-week range of $10.37 to $19.26. The company reported quarterly revenue of $333.92 million and a loss of $0.08 per share.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $17.56, despite some target-price adjustments.

ITG Inc. (NASDAQ:ITG - Get Free Report) saw a significant growth in short interest in August. As of August 14th, there was short interest totaling 295,976 shares, a growth of 52.7% from the July 30th total of 193,798 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 165,648 shares, the days-to-cover ratio is currently 1.8 days.

ITG Price Performance

Shares of ITG traded up $0.03 during mid-day trading on Tuesday, hitting $12.20. 2,240 shares of the company traded hands, compared to its average volume of 356,333. ITG has a one year low of $10.37 and a one year high of $19.26. The business has a 50-day simple moving average of $12.85.

ITG (NASDAQ:ITG - Get Free Report) last posted its quarterly earnings data on Monday, June 22nd. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $333.92 million for the quarter. As a group, analysts anticipate that ITG will post 0.54 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ITG shares. Bank of America began coverage on ITG in a report on Monday, July 27th. They issued a "buy" rating and a $16.00 target price for the company. Morgan Stanley decreased their price target on ITG from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, August 17th. Stifel Nicolaus assumed coverage on ITG in a research report on Monday, July 27th. They issued a "buy" rating and a $16.00 price target on the stock. Zacks Research upgraded ITG to a "hold" rating in a research note on Tuesday, July 28th. Finally, Truist Financial lifted their price objective on ITG from $16.00 to $17.00 and gave the company a "buy" rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $17.56.

About ITG

ITG, Inc was a financial services company best known for its institutional brokerage and trading services. The firm provided execution, electronic trading, and related brokerage solutions designed to help asset managers and other institutional investors trade securities more efficiently.

The company also offered portfolio trading, agency trading, and workflow tools that supported the investment process from order generation through execution. Over time, ITG developed technology-enabled services aimed at improving trading performance, transparency, and access to liquidity across equity markets.

ITG served institutional clients in the United States and other major financial markets.

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