Global Interactive Technologies, Inc. (NASDAQ:GITS) Sees Significant Decrease in Short Interest

Global Interactive Technologies, Inc. (NASDAQ:GITS) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 5,024 shares, a decline of 68.4% from the September 15th total of 15,899 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 25,103 shares, the short-interest ratio is presently 0.2 days.

Global Interactive Technologies Stock Performance

NASDAQ:GITS traded up $0.09 during trading hours on Tuesday, reaching $1.60. The stock had a trading volume of 12,784 shares, compared to its average volume of 1,061,797. Global Interactive Technologies has a 52 week low of $0.66 and a 52 week high of $7.09. The company has a 50 day moving average price of $1.99 and a two-hundred day moving average price of $1.97. The stock has a market capitalization of $6.72 million, a PE ratio of -1.11 and a beta of -0.59.

Global Interactive Technologies (NASDAQ:GITS) last posted its earnings results on Wednesday, September 9th. The company reported ($0.25) EPS for the quarter. The firm had revenue of $0.00 million during the quarter.

Hedge Funds Weigh In On Global Interactive Technologies

An institutional investor recently bought a new position in Global Interactive Technologies stock. Bank of America Corp DE bought a new position in Global Interactive Technologies, Inc. (NASDAQ:GITS) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 53,206 shares of the company’s stock, valued at approximately $119,000. Bank of America Corp DE owned about 1.45% of Global Interactive Technologies as of its most recent SEC filing. 0.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Global Interactive Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has an average 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.