Short Interest in Hitek Global Inc. (NASDAQ:HKIT) Increases By 178.6%

Hitek Global Inc. (NASDAQ:HKIT) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 130,400 shares, a growth of 178.6% from the March 31st total of 46,800 shares. Based on an average daily volume of 2,100,000 shares, the short-interest ratio is presently 0.1 days. Currently, 2.3% of the company’s stock are sold short.

Hitek Global Trading Down 4.9 %

HKIT opened at $1.35 on Friday. The business’s 50-day moving average is $1.65 and its two-hundred day moving average is $1.38. Hitek Global has a 1 year low of $0.54 and a 1 year high of $39.80. The company has a current ratio of 7.35, a quick ratio of 7.28 and a debt-to-equity ratio of 0.07.

Hedge Funds Weigh In On Hitek Global

An institutional investor recently bought a new position in Hitek Global stock. B. Riley Wealth Advisors Inc. bought a new stake in Hitek Global Inc. (NASDAQ:HKIT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 14,000 shares of the company’s stock, valued at approximately $32,000. B. Riley Wealth Advisors Inc. owned about 0.10% of Hitek Global at the end of the most recent reporting period. Institutional investors own 1.19% of the company’s stock.

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.