Hitek Global Inc. (NASDAQ:HKIT) Short Interest Up 149.0% in May

by · The Cerbat Gem

Hitek Global Inc. (NASDAQ:HKIT – Get Free Report) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 314,931 shares, an increase of 149.0% from the April 30th total of 126,476 shares. Based on an average trading volume of 1,965,291 shares, the short-interest ratio is currently 0.2 days. Approximately 53.4% of the shares of the stock are sold short.

Institutional Trading of Hitek Global

A hedge fund recently bought a new stake in Hitek Global stock. Susquehanna International Group LLP acquired a new position in Hitek Global Inc. (NASDAQ:HKIT – Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned 0.29% of Hitek Global as of its most recent filing with the SEC. 1.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Hitek Global in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Hitek Global to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Check Out Our Latest Analysis on HKIT

Hitek Global Stock Performance

Shares of HKIT stock traded up $5.12 during trading hours on Monday, hitting $6.58. 90,166,679 shares of the company were exchanged, compared to its average volume of 1,126,068. Hitek Global has a one year low of $1.46 and a one year high of $627.00. The business’s 50-day simple moving average is $10.48 and its two-hundred day simple moving average is $180.31.

Hitek Global (NASDAQ:HKIT – Get Free Report) last issued its quarterly earnings results on Friday, April 24th. The company reported $2.28 EPS for the quarter. The company had revenue of $2.90 million for the quarter.

About Hitek Global

(Get Free Report)

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.

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