Short Interest in Reitar Logtech Holdings Limited (NASDAQ:RITR) Increases By 526.7%

Reitar Logtech Holdings Limited (NASDAQ:RITR) was the recipient of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 1,132,544 shares, a growth of 526.7% from the July 30th total of 180,723 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average trading volume of 239,166,083 shares, the short-interest ratio is currently 0.0 days.

Reitar Logtech Trading Down 19.1%

Shares of Reitar Logtech stock opened at $0.09 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. Reitar Logtech has a one year low of $0.05 and a one year high of $7.68. The firm has a fifty day moving average of $0.25 and a two-hundred day moving average of $0.47.

Reitar Logtech (NASDAQ:RITR) last issued its earnings results on Monday, August 17th. The company reported ($0.12) earnings per share for the quarter. The firm had revenue of $10.60 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Reitar Logtech from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Reitar Logtech

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in Reitar Logtech during the 3rd quarter worth approximately $518,000. Geode Capital Management LLC acquired a new stake in shares of Reitar Logtech in the 2nd quarter valued at approximately $131,000. Citadel Advisors LLC purchased a new stake in shares of Reitar Logtech in the third quarter valued at approximately $140,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Reitar Logtech in the third quarter valued at approximately $108,000.

About Reitar Logtech

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.