Fitell Corporation (NASDAQ:FTEL) Short Interest Update

by · The Markets Daily

Fitell Corporation (NASDAQ:FTEL – Get Free Report) was the recipient of a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 18,706 shares, a decline of 65.2% from the January 29th total of 53,778 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 79,645 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 79,645 shares, the days-to-cover ratio is currently 0.2 days. Approximately 1.3% of the shares of the company are short sold.

Fitell Price Performance

Shares of Fitell stock traded down $0.07 during trading on Friday, hitting $1.63. 19,744 shares of the company were exchanged, compared to its average volume of 182,444. The firm’s fifty day moving average price is $3.17 and its 200 day moving average price is $23.94. Fitell has a 1-year low of $1.60 and a 1-year high of $153.60.

Fitell (NASDAQ:FTEL – Get Free Report) last issued its quarterly earnings data on Friday, November 14th. The company reported $335,544.32 EPS for the quarter. The company had revenue of $1.28 million for the quarter.

Fitell Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, January 13th. Investors of record on Tuesday, December 30th were issued a dividend of $0.10 per share. This represents a yield of 2,931.0%. The ex-dividend date of this dividend was Tuesday, December 30th.

Fitell announced that its Board of Directors has initiated a share buyback plan on Monday, December 1st that allows the company to repurchase $3.00 million in shares. This repurchase authorization allows the company to reacquire up to 265.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

FTEL has been the topic of several research analyst reports. Wall Street Zen raised shares of Fitell from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fitell in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Check Out Our Latest Stock Report on FTEL

Fitell Company Profile

(Get Free Report)

Fitell Corporation, together with its subsidiaries, operates as an online retailer of gym and fitness equipment for personal training studios and commercial gyms chains in Australia and Southeast Asia. The company sells fitness equipment, including home gym and commercial strength-training equipment; and cardio equipment, such as rowing machines, exercise bikes, treadmills, and other related products under the Muscle Motion, Rapid Motion, and FleetX brand names. It is also involved in the boutique fitness clubs licensing business.

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