Global Interactive Technologies, Inc. (NASDAQ:GITS) Sees Large Drop in Short Interest

by · The Markets Daily

Global Interactive Technologies, Inc. (NASDAQ:GITS – Get Free Report) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 76,378 shares, a drop of 53.4% from the June 30th total of 163,934 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily volume of 29,632 shares, the short-interest ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Global Interactive Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Global Interactive Technologies presently has an average rating of “Sell”.

Check Out Our Latest Research Report on Global Interactive Technologies

Global Interactive Technologies Stock Performance

GITS stock traded up $0.02 during midday trading on Wednesday, reaching $2.20. The stock had a trading volume of 5,343 shares, compared to its average volume of 1,420,399. The firm has a fifty day simple moving average of $1.98 and a two-hundred day simple moving average of $2.11. Global Interactive Technologies has a 52-week low of $0.66 and a 52-week high of $7.09. The stock has a market cap of $8.07 million, a PE ratio of -1.56 and a beta of -0.66.

Global Interactive Technologies (NASDAQ:GITS – Get Free Report) last posted its quarterly earnings results on Monday, June 22nd. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $0.00 million during the quarter.

Institutional Investors Weigh In On Global Interactive Technologies

An institutional investor recently bought a new position in Global Interactive Technologies stock. Citadel Advisors LLC purchased a new position in Global Interactive Technologies, Inc. (NASDAQ:GITS – Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,900 shares of the company’s stock, valued at approximately $41,000. Citadel Advisors LLC owned 0.49% of Global Interactive Technologies at the end of the most recent quarter. 0.22% of the stock is owned by hedge funds and other institutional investors.

About Global Interactive Technologies

(Get Free Report)

Global Interactive Technologies, Inc engages in the provision of a global multi-media platform for users to interact with other like-minded users to share appreciation of various types of entertainment and cultures such as K-POP and modern Korean culture. It operates through the FANTOO platform. The company was founded on October 20, 2021 and is headquartered in Seoul, South Korea.

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