Lite Strategy, Inc. (NASDAQ:LITS – Get Free Report) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 108,535 shares, a decrease of 41.4% from the September 30th total of 185,289 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 578,797 shares, the short-interest ratio is presently 0.2 days.
Hedge Funds Weigh In On Lite Strategy
Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in Lite Strategy by 13.2% in the first quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock worth $2,024,000 after acquiring an additional 203,278 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Lite Strategy during the 2nd quarter worth about $254,000. ADAR1 Capital Management LLC acquired a new stake in shares of Lite Strategy during the 2nd quarter worth about $62,000. Finally, GSA Capital Partners LLP purchased a new stake in Lite Strategy during the second quarter worth approximately $57,000. 52.38% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. Wall Street Zen raised Lite Strategy from a “strong sell” rating to a “sell” rating in a research report on Sunday, October 4th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has an average rating of “Sell”.
View Our Latest Research Report on Lite Strategy
Lite Strategy Trading Down 13.6%
LITS traded down $0.15 during midday trading on Monday, hitting $0.97. 729,804 shares of the company were exchanged, compared to its average volume of 398,045. The firm has a market capitalization of $29.43 million, a price-to-earnings ratio of -0.49 and a beta of 0.17. The company’s 50 day simple moving average is $1.17 and its 200 day simple moving average is $1.10. Lite Strategy has a 1-year low of $0.69 and a 1-year high of $2.26.
Lite Strategy (NASDAQ:LITS – Get Free Report) last posted its earnings results on Monday, September 28th. The company reported ($0.38) earnings per share (EPS) for the quarter.
About Lite Strategy
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