Lite Strategy (NASDAQ:LITS) Posts Quarterly Earnings Results

Lite Strategy (NASDAQ:LITS) announced its quarterly earnings results on Thursday. The company reported $0.48 earnings per share (EPS) for the quarter, FiscalAI reports.

Lite Strategy Price Performance

Shares of NASDAQ LITS traded up $0.05 during trading hours on Friday, hitting $1.02. 233,130 shares of the stock were exchanged, compared to its average volume of 344,199. The company’s 50 day moving average is $1.17 and its 200 day moving average is $1.09. The firm has a market capitalization of $31.02 million, a P/E ratio of -0.52 and a beta of 0.17. Lite Strategy has a one year low of $0.69 and a one year high of $2.26.

Analysts Set New Price Targets

A number of brokerages have weighed in on LITS. Wall Street Zen raised Lite Strategy from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in shares of Lite Strategy during the 2nd quarter worth about $57,000. ADAR1 Capital Management LLC acquired a new stake in Lite Strategy in the 2nd quarter valued at approximately $62,000. Renaissance Technologies LLC grew its holdings in Lite Strategy by 13.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock valued at $2,024,000 after buying an additional 203,278 shares during the last quarter. Finally, BlackRock Inc. bought a new position in Lite Strategy in the 2nd quarter worth approximately $254,000. Institutional investors own 52.38% of the company’s stock.

About Lite Strategy