Global Interactive Technologies, Inc. (NASDAQ:GITS) Short Interest Update

Global Interactive Technologies, Inc. (NASDAQ:GITS) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 76,378 shares, a decrease of 53.4% from the June 30th total of 163,934 shares. Based on an average daily volume of 29,632 shares, the short-interest ratio is presently 2.6 days. Currently, 2.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On Global Interactive Technologies

A hedge fund recently bought a new position in Global Interactive Technologies stock. Citadel Advisors LLC bought a new stake in Global Interactive Technologies, Inc. (NASDAQ:GITS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,900 shares of the company’s stock, valued at approximately $41,000. Citadel Advisors LLC owned 0.49% of Global Interactive Technologies as of its most recent SEC filing. 0.22% of the stock is currently owned by institutional investors.

Global Interactive Technologies Price Performance

NASDAQ GITS traded down $0.09 on Thursday, reaching $2.13. The company had a trading volume of 14,028 shares, compared to its average volume of 1,410,645. The firm has a market cap of $7.82 million, a price-to-earnings ratio of -1.51 and a beta of -0.66. Global Interactive Technologies has a fifty-two week low of $0.66 and a fifty-two week high of $7.09. The business has a 50 day moving average of $1.99 and a two-hundred day moving average of $2.12.

Global Interactive Technologies (NASDAQ:GITS) last announced its earnings results on Monday, June 22nd. The company reported ($0.14) EPS for the quarter. The business had revenue of $0.00 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Global Interactive Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Global Interactive Technologies currently has a consensus rating of “Sell”.

Global Interactive Technologies Company Profile

Global Interactive Technologies, Inc engages in the provision of a global multi-media platform for users to interact with other like-minded users to share appreciation of various types of entertainment and cultures such as K-POP and modern Korean culture. It operates through the FANTOO platform. The company was founded on October 20, 2021 and is headquartered in Seoul, South Korea.