Hitek Global Inc. (NASDAQ:HKIT) Short Interest Update

Hitek Global Inc. (NASDAQ:HKIT) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 179,334 shares, a drop of 32.6% from the February 26th total of 266,045 shares. Based on an average daily volume of 137,765 shares, the days-to-cover ratio is currently 1.3 days.

Hitek Global Price Performance

HKIT traded down $0.00 during trading on Friday, reaching $0.06. The company had a trading volume of 813,583,185 shares, compared to its average volume of 9,427,030. The firm’s 50-day simple moving average is $1.52 and its 200 day simple moving average is $1.79. Hitek Global has a 12-month low of $0.03 and a 12-month high of $4.18. The company has a current ratio of 14.27, a quick ratio of 14.21 and a debt-to-equity ratio of 0.07.

Wall Street Analyst Weigh In

Several analysts recently commented on HKIT shares. Wall Street Zen raised shares of Hitek Global to a “sell” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hitek Global in a report on Tuesday, January 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Hitek Global stock. XTX Topco Ltd bought a new stake in shares of Hitek Global Inc. (NASDAQ:HKIT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,063 shares of the company’s stock, valued at approximately $25,000. Hedge funds and other institutional investors own 1.19% of the company’s stock.

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. The company was founded in 1996 and is headquartered in Xiamen, China.