Fitell Corporation (NASDAQ:FTEL) Short Interest Update

Fitell Corporation (NASDAQ:FTEL) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 144,592 shares, a growth of 807.9% from the November 30th total of 15,926 shares. Based on an average trading volume of 19,811,257 shares, the short-interest ratio is currently 0.0 days. Approximately 11.0% of the shares of the stock are short sold. Approximately 11.0% of the shares of the stock are short sold. Based on an average trading volume of 19,811,257 shares, the short-interest ratio is currently 0.0 days.

Fitell Trading Down 3.1%

FTEL stock traded down $0.02 during trading on Wednesday, hitting $0.68. The stock had a trading volume of 164,407 shares, compared to its average volume of 1,274,785. Fitell has a twelve month low of $0.61 and a twelve month high of $187.68. The company’s 50-day moving average price is $1.70 and its two-hundred day moving average price is $5.91.

Fitell (NASDAQ:FTEL) last announced its earnings results on Friday, November 14th. The company reported $41,943.04 EPS for the quarter. The firm had revenue of $1.28 million for the quarter.

Fitell declared that its board has authorized a share repurchase program on Monday, December 1st that allows the company to buyback $3.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 265.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Fitell Dividend Announcement

The firm also recently announced a dividend, which will be paid on Tuesday, January 13th. Shareholders of record on Tuesday, December 30th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, December 29th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Fitell stock. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Fitell Corporation (NASDAQ:FTEL) by 114.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,500 shares of the company’s stock after purchasing an additional 35,966 shares during the period. Vanguard Personalized Indexing Management LLC owned 0.32% of Fitell worth $34,000 as of its most recent SEC filing. 0.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

FTEL has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fitell in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Fitell from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Fitell Company Profile

Fitell Corporation, together with its subsidiaries, operates as an online retailer of gym and fitness equipment for personal training studios and commercial gyms chains in Australia and Southeast Asia. The company sells fitness equipment, including home gym and commercial strength-training equipment; and cardio equipment, such as rowing machines, exercise bikes, treadmills, and other related products under the Muscle Motion, Rapid Motion, and FleetX brand names. It is also involved in the boutique fitness clubs licensing business.