Reitar Logtech Holdings Limited (NASDAQ:RITR) Sees Large Growth in Short Interest

Reitar Logtech Holdings Limited (NASDAQ:RITR – Get Free Report) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 3,191,534 shares, an increase of 181.8% from the August 15th total of 1,132,544 shares. Based on an average daily volume of 107,162,286 shares, the short-interest ratio is presently 0.0 days. Approximately 5.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Reitar Logtech from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, August 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Reitar Logtech has a consensus rating of “Sell”.

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Reitar Logtech Stock Performance

Shares of NASDAQ:RITR opened at $0.09 on Friday. The company has a 50 day moving average of $0.15 and a two-hundred day moving average of $0.41. Reitar Logtech has a 52-week low of $0.05 and a 52-week high of $7.68. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.10.

Reitar Logtech (NASDAQ:RITR – Get Free Report) last posted its earnings results on Monday, August 17th. The company reported ($2.86) EPS for the quarter. The firm had revenue of $10.60 million for the quarter.

Hedge Funds Weigh In On Reitar Logtech

A number of institutional investors have recently added to or reduced their stakes in RITR. BNP Paribas Financial Markets acquired a new stake in shares of Reitar Logtech during the third quarter valued at about $518,000. Geode Capital Management LLC acquired a new position in shares of Reitar Logtech in the second quarter worth about $131,000. Citadel Advisors LLC acquired a new position in shares of Reitar Logtech in the third quarter worth about $140,000. Finally, JPMorgan Chase & Co. purchased a new position in Reitar Logtech in the third quarter valued at about $108,000.

About Reitar Logtech

(Get Free Report)

Reitar Logtech Holdings Limited, through its subsidiaries, provides construction management and engineering design services. It operates in two segments, Asset Management and Professional Consultancy Services; and Construction Management and Engineering Design Services. The company provides construction management and engineering design services for cold storage facilities, automated warehouses, renovated offices, and tailor-made electrical systems. It also offers asset management services for construction projects, including refrigerated storages and warehouses; and professional consultancy services for construction projects, such as renovation works, interior designs and modification works of commercial units, and residential or commercial redevelopment works.

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