Reitar Logtech Holdings Limited (NASDAQ:RITR) Sees Large Growth in Short Interest

Reitar Logtech Holdings Limited (NASDAQ:RITR) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 340,900 shares, a growth of 113.7% from the September 15th total of 159,500 shares. Based on an average daily trading volume, of 870,500 shares, the short-interest ratio is presently 0.4 days. Approximately 2.3% of the company’s shares are sold short. Approximately 2.3% of the company’s shares are sold short. Based on an average daily trading volume, of 870,500 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On Reitar Logtech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RITR. SBI Securities Co. Ltd. purchased a new stake in Reitar Logtech in the second quarter worth $51,000. XTX Topco Ltd grew its stake in Reitar Logtech by 134.3% in the first quarter. XTX Topco Ltd now owns 23,938 shares of the company’s stock worth $67,000 after purchasing an additional 13,721 shares during the period. Finally, Geode Capital Management LLC purchased a new stake in Reitar Logtech in the second quarter worth $131,000.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RITR shares. Wall Street Zen cut Reitar Logtech from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of Reitar Logtech in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Reitar Logtech Stock Up 0.6%

Shares of RITR stock opened at $1.67 on Wednesday. The business’s fifty day moving average is $4.23 and its 200 day moving average is $4.21. Reitar Logtech has a twelve month low of $1.48 and a twelve month high of $8.75.

Reitar Logtech Company Profile

Reitar Logtech Holdings Limited, through its subsidiaries, provides construction management and engineering design services. It operates in two segments, Asset Management and Professional Consultancy Services; and Construction Management and Engineering Design Services. The company provides construction management and engineering design services for cold storage facilities, automated warehouses, renovated offices, and tailor-made electrical systems.