Long Corridor Asset Management Ltd Makes New Investment in Lite Strategy, Inc. $LITS

Long Corridor Asset Management Ltd bought a new stake in Lite Strategy, Inc. (NASDAQ:LITS – Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,027,206 shares of the company’s stock, valued at approximately $2,619,000. Lite Strategy makes up 0.8% of Long Corridor Asset Management Ltd’s investment portfolio, making the stock its 27th biggest position. Long Corridor Asset Management Ltd owned approximately 3.02% of Lite Strategy as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of LITS. Virtu Financial LLC bought a new stake in Lite Strategy in the fourth quarter valued at about $35,000. HRT Financial LP bought a new position in Lite Strategy during the 4th quarter worth approximately $42,000. GSA Capital Partners LLP acquired a new position in shares of Lite Strategy in the 2nd quarter worth approximately $57,000. Alpine Global Management LLC acquired a new position in shares of Lite Strategy in the 4th quarter worth approximately $66,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Lite Strategy in the 4th quarter valued at approximately $89,000. Institutional investors own 52.38% of the company’s stock.

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Lite Strategy Stock Up 4.9%

Shares of NASDAQ LITS opened at $0.99 on Friday. The firm’s 50-day moving average price is $0.94 and its two-hundred day moving average price is $1.04. Lite Strategy, Inc. has a 52-week low of $0.69 and a 52-week high of $5.50. The stock has a market capitalization of $33.68 million, a P/E ratio of -0.62 and a beta of 0.21.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings cut Lite Strategy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Lite Strategy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Check Out Our Latest Analysis on Lite Strategy

Lite Strategy Profile

(Free Report)

MEI Pharma, Inc, a late-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor that is in Phase III clinical trial for the treatment of patients with relapsed/refractory follicular lymphoma, as well as in Phase Ib multi-arm trial to treat B-cell malignancies; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies.

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