Health In Tech, Inc. (NASDAQ:HIT) Sees Large Growth in Short Interest

Health In Tech, Inc. (NASDAQ:HIT) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 269,748 shares, an increase of 103.2% from the December 15th total of 132,749 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 545,890 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily trading volume, of 545,890 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.5% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HIT. Ancora Advisors LLC purchased a new stake in shares of Health In Tech in the 3rd quarter valued at $389,000. Two Sigma Investments LP purchased a new position in shares of Health In Tech during the third quarter worth $386,000. Jane Street Group LLC acquired a new position in Health In Tech during the first quarter valued at $48,000. Cubist Systematic Strategies LLC acquired a new position in Health In Tech during the first quarter valued at $41,000. Finally, Millennium Management LLC purchased a new stake in Health In Tech in the third quarter valued at $85,000.

Health In Tech Stock Up 2.1%

Shares of HIT stock traded up $0.03 on Friday, hitting $1.43. The stock had a trading volume of 73,198 shares, compared to its average volume of 267,154. Health In Tech has a one year low of $0.51 and a one year high of $7.59. The business has a 50 day moving average price of $1.49 and a 200 day moving average price of $2.21. The company has a market cap of $81.38 million and a PE ratio of 47.67.

Health In Tech (NASDAQ:HIT) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $8.49 million during the quarter, compared to analysts’ expectations of $7.05 million.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen lowered Health In Tech from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Health In Tech in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2.50.

About Health In Tech

Health in Tech, Inc engages in the provision of insurance technology platforms which offer a marketplace of processes in the healthcare industry. Its services include Stone Mountain Risk, eDIYBS, HI Card, HI Performance Network, and Ancillary Products. The company was founded by Tim Johnson in 2014 and is headquartered in Stuart, FL.