Short Interest in Intertek Group plc (OTCMKTS:IKTSY) Declines By 66.0%

Intertek Group plc (OTCMKTS:IKTSY) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 1,800 shares, a decrease of 66.0% from the December 31st total of 5,300 shares. Based on an average daily volume of 6,100 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analyst Weigh In

IKTSY has been the topic of several research analyst reports. Royal Bank of Canada downgraded shares of Intertek Group from an “outperform” rating to a “sector perform” rating in a report on Monday, October 21st. Barclays raised shares of Intertek Group from a “strong sell” rating to a “strong-buy” rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group raised shares of Intertek Group to a “strong-buy” rating in a report on Friday, October 11th.

Intertek Group Price Performance

Intertek Group stock traded down $1.40 during mid-day trading on Wednesday, reaching $63.50. 1,536 shares of the company’s stock traded hands, compared to its average volume of 2,641. The stock has a 50 day moving average of $60.35 and a two-hundred day moving average of $62.26. Intertek Group has a 12-month low of $54.57 and a 12-month high of $69.79.

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.