Hitek Global Inc. (NASDAQ:HKIT – Get Free Report) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 13,040 shares, a growth of 130.6% from the August 15th total of 5,655 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 182,589 shares, the short-interest ratio is currently 0.1 days.
Hitek Global Price Performance
Hitek Global stock traded down $0.21 during midday trading on Tuesday, hitting $2.37. 8,003 shares of the company’s stock were exchanged, compared to its average volume of 283,260. The stock has a 50-day moving average price of $3.18 and a two-hundred day moving average price of $670.93. Hitek Global has a 52-week low of $2.36 and a 52-week high of $15,675.00.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Hitek Global to a “hold” rating in a research report on Saturday, May 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hitek Global in a report on Tuesday, July 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.
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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