Hitek Global Inc. (NASDAQ:HKIT) Short Interest Update

Hitek Global Inc. (NASDAQ:HKIT) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totaling 150,014 shares, a decrease of 79.0% from the June 15th total of 713,270 shares. Based on an average daily trading volume, of 17,402,290 shares, the days-to-cover ratio is currently 0.0 days. Currently, 107.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Hitek Global

An institutional investor recently bought a new position in Hitek Global stock. XTX Topco Ltd acquired a new stake in Hitek Global Inc. (NASDAQ:HKIT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,063 shares of the company’s stock, valued at approximately $25,000. Institutional investors own 1.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on HKIT. Weiss Ratings reissued a “sell (d)” rating on shares of Hitek Global in a research report on Friday, April 24th. Wall Street Zen upgraded Hitek Global to a “hold” rating in a research report on Saturday, May 30th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Hitek Global currently has an average rating of “Sell”.

Hitek Global Stock Down 3.7%

HKIT stock traded down $0.16 during midday trading on Friday, hitting $4.12. The stock had a trading volume of 49,825 shares, compared to its average volume of 548,035. Hitek Global has a 12-month low of $3.65 and a 12-month high of $15,675.00. The company’s 50-day moving average price is $26.27 and its 200 day moving average price is $3,153.16.

Hitek Global (NASDAQ:HKIT) last issued its quarterly earnings results on Friday, April 24th. The company reported $57.00 earnings per share for the quarter. The business had revenue of $2.90 million for the quarter.

Hitek Global Company Profile

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.