Health In Tech (NASDAQ:HIT) Announces Quarterly Earnings Results

Health In Tech (NASDAQ:HIT) issued its earnings results on Thursday. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01), FiscalAI reports. The business had revenue of $8.06 million during the quarter.

Health In Tech Stock Up 3.9%

Shares of NASDAQ:HIT traded up $0.04 on Thursday, reaching $1.06. The company had a trading volume of 83,978 shares, compared to its average volume of 235,522. Health In Tech has a twelve month low of $0.85 and a twelve month high of $4.02. The stock has a 50-day moving average price of $1.06 and a 200 day moving average price of $1.26. The stock has a market capitalization of $69.47 million, a P/E ratio of -53.00 and a beta of 2.82.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in Health In Tech in the 4th quarter worth approximately $203,000. State Street Corp grew its holdings in Health In Tech by 195.3% during the fourth quarter. State Street Corp now owns 62,900 shares of the company’s stock valued at $100,000 after purchasing an additional 41,600 shares during the last quarter. Jane Street Group LLC grew its holdings in Health In Tech by 307.9% during the fourth quarter. Jane Street Group LLC now owns 50,648 shares of the company’s stock valued at $81,000 after purchasing an additional 38,230 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Health In Tech in the fourth quarter valued at approximately $214,000. Finally, Geode Capital Management LLC raised its position in shares of Health In Tech by 46.6% in the fourth quarter. Geode Capital Management LLC now owns 170,502 shares of the company’s stock valued at $271,000 after purchasing an additional 54,217 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HIT shares. Wall Street Zen cut Health In Tech from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of Health In Tech in a research note on Tuesday, June 30th. Finally, Craig Hallum initiated coverage on shares of Health In Tech in a research report on Monday, April 20th. They issued a “buy” rating and a $4.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

Health In Tech Company Profile

Health in Tech, Inc engages in the provision of insurance technology platforms which offer a marketplace of processes in the healthcare industry. Its services include Stone Mountain Risk, eDIYBS, HI Card, HI Performance Network, and Ancillary Products. The company was founded by Tim Johnson in 2014 and is headquartered in Stuart, FL.