Lite Strategy (NASDAQ:LITS) Director Buys $21,500.00 in Stock

Lite Strategy, Inc. (NASDAQ:LITS – Get Free Report) Director James Flynn bought 25,000 shares of Lite Strategy stock in a transaction on Wednesday, June 24th. The stock was purchased at an average price of $0.86 per share, with a total value of $21,500.00. Following the completion of the acquisition, the director directly owned 125,000 shares of the company’s stock, valued at $107,500. This represents a 25.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Lite Strategy Stock Performance

LITS stock opened at $0.88 on Friday. The firm has a market cap of $29.88 million, a price-to-earnings ratio of -0.55 and a beta of 0.21. The firm has a 50-day simple moving average of $1.02 and a two-hundred day simple moving average of $1.18. Lite Strategy, Inc. has a one year low of $0.69 and a one year high of $9.00.

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Lite Strategy (NASDAQ:LITS – Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.66) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Lite Strategy

Several hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in Lite Strategy in the 4th quarter worth approximately $35,000. HRT Financial LP acquired a new position in Lite Strategy during the 4th quarter valued at approximately $42,000. Alpine Global Management LLC acquired a new position in Lite Strategy during the 4th quarter valued at approximately $66,000. ADAR1 Capital Management LLC purchased a new position in shares of Lite Strategy in the fourth quarter worth $89,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Lite Strategy in the fourth quarter worth $112,000. Institutional investors and hedge funds own 52.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LITS. Wall Street Zen raised shares of Lite Strategy from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Lite Strategy in a research report on Monday, June 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Check Out Our Latest Stock Analysis on LITS

About Lite Strategy

(Get 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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