IGI Laboratories Short Interest Up 21.3% in August (IG)
Shares of IGI Laboratories (NYSE:IG) were the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 1,880,437 shares, an increase of 21.3% from the July 31st total of 1,550,473 shares, AnalystRatings.NET reports. Based on an average daily volume of 766,385 shares, the days-to-cover ratio is presently 2.5 days. Approximately 7.0% of the shares of the stock are short sold.
In other IGI Laboratories news, Director James C. Gale purchased 5,000 shares of the stock on the open market in a transaction dated Friday, August 22nd. The stock was purchased at an average price of $5.90 per share, with a total value of $29,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Zacks downgraded shares of IGI Laboratories from a “neutral” rating to an “underperform” rating in a research note on Monday, July 28th. They now have a $5.00 price target on the stock.
IGI Laboratories (NYSE:IG) traded down 1.89% on Tuesday, hitting $6.22. The stock had a trading volume of 908,755 shares. IGI Laboratories has a 52-week low of $1.80 and a 52-week high of $6.53. The stock has a 50-day moving average of $5.71 and a 200-day moving average of $5.10. The company’s market cap is $326.4 million.
IGI Laboratories (NYSE:IG) last posted its quarterly earnings results on Thursday, July 24th. The company reported ($0.01) EPS for the quarter. On average, analysts predict that IGI Laboratories will post $0.01 earnings per share for the current fiscal year.
IGI Laboratories, Inc (NYSE:IG) develops, manufactures, fills and packs topical semi-solid and liquid products for cosmetic, cosmeceutical and pharmaceutical customers.
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