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

Hitek Global Inc. (NASDAQ:HKIT) saw a significant decline in short interest in July. As of July 31st, there was short interest totaling 6,356 shares, a decline of 40.5% from the July 15th total of 10,684 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 96,910 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Hitek Global

A hedge fund recently bought a new stake in Hitek Global stock. XTX Topco Ltd purchased a new position in Hitek Global Inc. (NASDAQ:HKIT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,063 shares of the company’s stock, valued at approximately $25,000. Hedge funds and other institutional investors own 1.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hitek Global in a report on Tuesday, July 21st. Wall Street Zen raised shares of Hitek Global to a “hold” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Hitek Global Stock Performance

Shares of HKIT opened at $3.11 on Monday. Hitek Global has a 12-month low of $2.36 and a 12-month high of $15,675.00. The stock has a 50-day moving average price of $5.30 and a 200-day moving average price of $1,764.13.

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.