Health In Tech, Inc. (NASDAQ:HIT) Short Interest Update

by · The Markets Daily

Health In Tech, Inc. (NASDAQ:HIT – Get Free Report) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 565,388 shares, a decline of 47.0% from the June 15th total of 1,066,152 shares. Based on an average trading volume of 122,412 shares, the days-to-cover ratio is presently 4.6 days. Approximately 0.9% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HIT. Weiss Ratings reiterated a “sell (d)” rating on shares of Health In Tech in a research note on Tuesday, June 30th. Wall Street Zen cut shares of Health In Tech from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Craig Hallum assumed coverage on shares of Health In Tech in a report on Monday, April 20th. They set a “buy” rating and a $4.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.00.

Check Out Our Latest Research Report on HIT

Institutional Investors Weigh In On Health In Tech

Hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in Health In Tech during the third quarter valued at approximately $45,000. Squarepoint Ops LLC purchased a new stake in Health In Tech during the third quarter worth $46,000. Millennium Management LLC bought a new stake in Health In Tech during the 3rd quarter valued at $85,000. Jane Street Group LLC boosted its position in Health In Tech by 307.9% during the 4th quarter. Jane Street Group LLC now owns 50,648 shares of the company’s stock valued at $81,000 after acquiring an additional 38,230 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Health In Tech in the 1st quarter valued at $41,000.

Health In Tech Trading Down 3.3%

Shares of HIT traded down $0.04 during midday trading on Wednesday, reaching $1.03. 38,442 shares of the stock were exchanged, compared to its average volume of 264,409. The company has a market capitalization of $67.82 million, a P/E ratio of -52.50 and a beta of 2.88. Health In Tech has a 52 week low of $0.85 and a 52 week high of $4.02. The company’s 50 day moving average is $1.08 and its two-hundred day moving average is $1.33.

Health In Tech (NASDAQ:HIT – Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $8.77 million during the quarter.

About Health In Tech

(Get Free Report)

Health in Tech, Inc engages in the provision of insurance technology platforms which offer a marketplace of processes in the healthcare industry. Its services include Stone Mountain Risk, eDIYBS, HI Card, HI Performance Network, and Ancillary Products. The company was founded by Tim Johnson in 2014 and is headquartered in Stuart, FL.

Read More