Hitek Global Inc. (NASDAQ:HKIT – Get Free Report) saw a significant decline in short interest in July. As of July 31st, there was short interest totaling 6,356 shares, a decline of 40.5% from the July 15th total of 10,684 shares. Based on an average trading volume of 96,910 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are short sold.
Hitek Global Price Performance
HKIT stock opened at $3.11 on Monday. Hitek Global has a one year low of $2.36 and a one year high of $15,675.00. The company’s 50 day moving average price is $5.30 and its two-hundred day moving average price is $1,764.13.
Analyst Upgrades and Downgrades
A number of research firms recently commented on HKIT. Weiss Ratings restated a “sell (d)” rating on shares of Hitek Global in a research report on Tuesday, July 21st. Wall Street Zen upgraded Hitek Global to a “hold” rating in a report on Saturday, May 30th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.
Hedge Funds Weigh In On Hitek Global
A hedge fund recently bought a new position in Hitek Global stock. XTX Topco Ltd purchased a new position in Hitek Global Inc. (NASDAQ:HKIT – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,063 shares of the company’s stock, valued at approximately $25,000. 1.19% of the stock is owned by hedge funds and other institutional investors.
About Hitek Global
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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