Hitek Global Inc. (NASDAQ:HKIT) Short Interest Update
by Danessa Lincoln · The Markets DailyHitek Global Inc. (NASDAQ:HKIT – Get Free Report) was the recipient of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 366,390 shares, a decline of 26.6% from the January 15th total of 499,331 shares. Currently, 2.5% of the company’s shares are sold short. Based on an average daily volume of 69,800 shares, the days-to-cover ratio is currently 5.2 days. Based on an average daily volume of 69,800 shares, the days-to-cover ratio is currently 5.2 days. Currently, 2.5% of the company’s shares are sold short.
Analysts Set New Price Targets
HKIT has been the subject of several research reports. Wall Street Zen raised shares of Hitek Global to a “sell” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Hitek Global in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Hitek Global has an average rating of “Sell”.
Check Out Our Latest Analysis on HKIT
Hitek Global Stock Performance
Shares of HKIT stock traded down $0.05 during trading hours on Friday, reaching $1.97. 5,827 shares of the company’s stock were exchanged, compared to its average volume of 40,531. Hitek Global has a fifty-two week low of $1.16 and a fifty-two week high of $4.18. The stock’s 50 day moving average is $1.99 and its 200-day moving average is $1.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 14.21 and a current ratio of 14.27.
Hitek Global (NASDAQ:HKIT – Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $0.37 million during the quarter.
Hedge Funds Weigh In On Hitek Global
A hedge fund recently bought a new stake in Hitek Global stock. Susquehanna International Group LLP bought a new stake in Hitek Global Inc. (NASDAQ:HKIT – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned approximately 0.29% of Hitek Global as of its most recent SEC filing. Institutional investors own 1.19% of the company’s stock.
Hitek Global Company Profile
Hitek Global Inc provides information technology (IT) consulting and solutions to small and medium businesses in various industry sectors in China. It offers anti-counterfeiting tax control system (ACTCS) tax devices, including golden tax disk and printers, ACTCS services, and IT services; and sells software and hardware to large businesses, such as laptops, printers, desktop computers, and related accessories, as well as Internet servers, cameras, and monitors. The company was founded in 1996 and is headquartered in Xiamen, China.