Hitek Global (NASDAQ:HKIT) Shares Up 9.8% – Here’s Why

Shares of Hitek Global Inc. (NASDAQ:HKIT) rose 9.8% on Friday . The stock traded as high as $1.6550 and last traded at $1.62. Approximately 135,589 shares were traded during trading, a decline of 75% from the average daily volume of 543,581 shares. The stock had previously closed at $1.4750.

Analyst Ratings Changes

Separately, Weiss Ratings started coverage on shares of Hitek Global in a research report on Thursday, October 30th. They set a “sell (d)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Hitek Global Stock Performance

The company has a current ratio of 14.27, a quick ratio of 14.21 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average price of $1.91 and a 200 day moving average price of $1.65.

Hitek Global (NASDAQ:HKIT) last posted its earnings results on Wednesday, October 22nd. The company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $0.37 million during the quarter.

Institutional Investors Weigh In On Hitek Global

An institutional investor recently bought a new position in Hitek Global stock. Susquehanna International Group LLP bought a new position in shares of Hitek Global Inc. (NASDAQ:HKIT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned about 0.29% of Hitek Global as of its most recent SEC filing. 1.19% of the stock is currently owned by institutional investors and hedge funds.

About Hitek Global

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.