Lite Strategy, Inc. (NASDAQ:LITS) Short Interest Update

Lite Strategy, Inc. (NASDAQ:LITS) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 83,719 shares, a decrease of 67.0% from the August 31st total of 253,344 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily volume of 471,776 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On Lite Strategy

A number of hedge funds have recently modified their holdings of the company. Alpine Global Management LLC purchased a new position in Lite Strategy during the fourth quarter worth approximately $66,000. GSA Capital Partners LLP purchased a new stake in shares of Lite Strategy in the second quarter valued at about $57,000. ADAR1 Capital Management LLC purchased a new stake in shares of Lite Strategy during the 2nd quarter worth about $62,000. Renaissance Technologies LLC grew its position in shares of Lite Strategy by 13.2% during the first quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock worth $2,024,000 after buying an additional 203,278 shares in the last quarter. Finally, BlackRock Inc. bought a new position in shares of Lite Strategy in the second quarter worth about $254,000. 52.38% of the stock is currently owned by institutional investors.

Lite Strategy Stock Performance

NASDAQ:LITS traded up $0.01 during trading hours on Tuesday, hitting $1.38. The stock had a trading volume of 548,032 shares, compared to its average volume of 396,801. The company has a market cap of $46.79 million, a price-to-earnings ratio of -0.86 and a beta of 0.21. Lite Strategy has a one year low of $0.69 and a one year high of $2.97. The business’s 50 day moving average is $1.04 and its 200-day moving average is $1.04.

Lite Strategy (NASDAQ:LITS) last announced its earnings results on Monday, September 28th. The company reported ($0.38) EPS for the quarter.

Wall Street Analyst Weigh In

LITS has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Wall Street Zen downgraded shares of Lite Strategy from a “sell” rating to a “strong sell” rating in a report on Saturday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

About Lite Strategy