Fitell Corporation (NASDAQ:FTEL) Short Interest Down 87.0% in January
by Doug Wharley · The Cerbat GemFitell Corporation (NASDAQ:FTEL – Get Free Report) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totaling 26,401 shares, a drop of 87.0% from the December 31st total of 202,481 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily volume of 187,834 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 187,834 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.9% of the shares of the stock are sold short.
Wall Street Analysts Forecast Growth
FTEL has been the topic of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Fitell in a research report on Thursday, January 22nd. Wall Street Zen upgraded Fitell from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.
View Our Latest Research Report on FTEL
Fitell Stock Down 3.7%
Shares of FTEL traded down $0.11 during midday trading on Wednesday, reaching $2.84. 224,207 shares of the stock were exchanged, compared to its average volume of 312,325. Fitell has a twelve month low of $2.65 and a twelve month high of $1,418.48. The stock’s 50 day simple moving average is $5.03 and its 200 day simple moving average is $36.03.
Fitell (NASDAQ:FTEL – Get Free Report) last posted its quarterly earnings data on Friday, November 14th. The company reported $335,544.32 EPS for the quarter. The firm had revenue of $1.28 million during the quarter.
Fitell Announces Dividend
The firm also recently disclosed 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. The ex-dividend date was Tuesday, December 30th. This represents a yield of 2,931.0%.
Fitell announced that its Board of Directors has authorized a share buyback plan on Monday, December 1st that permits the company to buyback $3.00 million in shares. This buyback authorization permits the company to purchase up to 265.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
Institutional Trading of Fitell
A hedge fund recently raised its stake in Fitell stock. Vanguard Personalized Indexing Management LLC raised its holdings in Fitell Corporation (NASDAQ:FTEL – Free Report) by 114.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,500 shares of the company’s stock after purchasing an additional 35,966 shares during the period. Vanguard Personalized Indexing Management LLC owned about 0.32% of Fitell worth $34,000 at the end of the most recent quarter. Institutional investors own 0.10% of the company’s stock.
Fitell Company Profile
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.