ITG Inc. (NASDAQ:ITG) Shares Shorted: Short Interest Up 209.3% in September

ITG Inc. (NASDAQ:ITG) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 1,758,379 shares, a growth of 209.3% from the September 15th total of 568,503 shares. Based on an average trading volume of 809,983 shares, the short-interest ratio is presently 2.2 days. Currently, 1.5% of the company’s shares are short sold.

Analyst Ratings Changes

ITG has been the subject of several analyst reports. Bank of America started coverage on shares of ITG in a report on Monday, July 27th. They issued a “buy” rating and a $16.00 target price for the company. Vertical Research initiated coverage on shares of ITG in a report on Monday, July 27th. They set a “buy” rating and a $20.00 price target on the stock. Stifel Nicolaus initiated coverage on shares of ITG in a research report on Monday, July 27th. They issued a “buy” rating and a $16.00 price objective on the stock. UBS Group initiated coverage on shares of ITG in a research report on Monday, July 27th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Citigroup started coverage on shares of ITG in a research note on Monday, July 27th. They issued a “buy” rating and a $17.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.22.

ITG Stock Up 0.3%

ITG traded up $0.02 on Tuesday, reaching $7.50. 290,740 shares of the company traded hands, compared to its average volume of 429,663. The firm has a market capitalization of $931.18 million and a P/E ratio of 93.75. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 23.48. ITG has a one year low of $6.55 and a one year high of $19.26. The firm has a fifty day moving average price of $11.43.

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

About ITG

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.