Hitek Global (NASDAQ:HKIT) Posts Earnings Results

Hitek Global (NASDAQ:HKIT) posted its quarterly earnings results on Friday. The company reported $0.76 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $2.90 million for the quarter.

Hitek Global Stock Performance

HKIT traded down $0.01 during midday trading on Friday, reaching $0.99. The company’s stock had a trading volume of 1,222,398 shares, compared to its average volume of 629,561. The company has a fifty day simple moving average of $38.91 and a 200 day simple moving average of $77.96. Hitek Global has a twelve month low of $0.89 and a twelve month high of $209.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Hitek Global to a “sell” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Hitek Global in a research note on Tuesday, January 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Trading of Hitek Global

An institutional investor recently bought a new position in Hitek Global stock. Susquehanna International Group LLP acquired a new position in shares of Hitek Global Inc. (NASDAQ:HKIT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned approximately 0.29% of Hitek Global at the end of the most recent quarter. 1.19% of the stock is 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. The company was founded in 1996 and is headquartered in Xiamen, China.