Short Interest in ITG Inc. (NASDAQ:ITG) Rises By 52.7%

ITG Inc. (NASDAQ:ITG) saw a significant growth in short interest during the month of 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. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 165,648 shares, the short-interest ratio is currently 1.8 days.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ITG shares. Vertical Research started coverage on ITG in a research report on Monday, July 27th. They set a “buy” rating and a $20.00 price objective for the company. Citigroup assumed coverage on shares of ITG in a report on Monday, July 27th. They issued a “buy” rating and a $17.00 target price for the company. Truist Financial boosted their price objective on shares of ITG from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Zacks Research upgraded ITG to a “hold” rating in a report on Tuesday, July 28th. Finally, Robert W. Baird started coverage on shares of ITG in a report on Monday, July 27th. They set an “outperform” rating and a $19.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $17.56.

ITG Price Performance

Shares of ITG traded up $0.26 during midday trading on Wednesday, reaching $12.25. 2,749 shares of the company were exchanged, compared to its average volume of 352,221. The company’s 50-day moving average is $12.83. ITG has a 1-year low of $10.37 and a 1-year high of $19.26.

ITG (NASDAQ:ITG) last released its quarterly earnings results 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. On average, research analysts anticipate that ITG will post 0.54 earnings per share for the current year.

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.