The Intergroup Corporation (NASDAQ:INTG) Sees Large Increase in Short Interest

The Intergroup Corporation (NASDAQ:INTG) saw a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 7,492 shares, a growth of 134.6% from the April 15th total of 3,194 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average daily volume of 37,434 shares, the days-to-cover ratio is currently 0.2 days.

Intergroup Trading Down 4.8%

Intergroup stock traded down $1.85 during trading hours on Friday, hitting $36.52. 40,478 shares of the stock traded hands, compared to its average volume of 20,983. The firm’s 50-day moving average price is $36.96 and its two-hundred day moving average price is $32.86. The company has a market cap of $78.48 million, a PE ratio of -405.73 and a beta of 0.08. Intergroup has a one year low of $9.57 and a one year high of $43.83.

Intergroup (NASDAQ:INTG) last posted its quarterly earnings data on Monday, May 11th. The financial services provider reported $0.21 earnings per share for the quarter. The firm had revenue of $20.37 million for the quarter.

Institutional Trading of Intergroup

A hedge fund recently raised its stake in Intergroup stock. Qube Research & Technologies Ltd raised its position in shares of The Intergroup Corporation (NASDAQ:INTG) by 11.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,795 shares of the financial services provider’s stock after acquiring an additional 2,636 shares during the quarter. Qube Research & Technologies Ltd owned approximately 1.15% of Intergroup worth $298,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 3.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INTG shares. Wall Street Zen raised Intergroup from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intergroup in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Intergroup has a consensus rating of “Sell”.

About Intergroup

Intergroup Corporation (NASDAQ: INTG) is a U.S.-based manufacturer and marketer of industrial and food packaging products. Through its operating subsidiaries, the company produces a broad array of container solutions including corrugated paperboard, recycled fiberboard, plastic and fiber-plastic combinations, as well as wood and tin packaging. These products serve a diverse customer base across the food processing, consumer goods, pharmaceutical, and industrial sectors.

The company’s product portfolio encompasses custom-designed cartons, paper and plastic boxes, and heavy-duty shipping containers tailored to meet the specific strength, moisture resistance, and storage requirements of its customers.