Intertek Group plc (OTCMKTS:IKTSY) Sees Significant Growth in Short Interest

Intertek Group plc (OTCMKTS:IKTSY) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 5,300 shares, an increase of 47.2% from the November 30th total of 3,600 shares. Based on an average trading volume of 9,800 shares, the days-to-cover ratio is currently 0.5 days.

Intertek Group Price Performance

Shares of IKTSY stock traded down $0.77 during trading hours on Monday, hitting $59.41. 1,723 shares of the company’s stock traded hands, compared to its average volume of 9,934. The stock’s 50 day simple moving average is $60.18 and its 200 day simple moving average is $62.30. Intertek Group has a 12 month low of $52.92 and a 12 month high of $69.79.

Wall Street Analysts Forecast Growth

IKTSY has been the subject of a number of analyst reports. The Goldman Sachs Group upgraded shares of Intertek Group to a “strong-buy” rating in a research report on Friday, October 11th. Royal Bank of Canada lowered shares of Intertek Group from an “outperform” rating to a “sector perform” rating in a report on Monday, October 21st.

About Intertek Group

Intertek Group plc engages in the provision of quality assurance solutions to various industries in the United Kingdom, the United States, China, Australia, and internationally. The company operates in five segments: Consumer Products, Corporate Assurance, Health and Safety, Industry and Infrastructure, and World of Energy.