Global Interactive Technologies, Inc. (NASDAQ:GITS) Sees Large Increase in Short Interest

Global Interactive Technologies, Inc. (NASDAQ:GITS) was the recipient of a significant increase in short interest in May. As of May 29th, there was short interest totaling 31,721 shares, an increase of 256.5% from the May 14th total of 8,897 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average trading volume of 304,681 shares, the days-to-cover ratio is currently 0.1 days.

Global Interactive Technologies Stock Performance

Shares of NASDAQ GITS traded down $0.24 during midday trading on Friday, hitting $1.76. 23,927 shares of the stock traded hands, compared to its average volume of 163,457. The company has a market cap of $6.46 million, a PE ratio of -1.20 and a beta of -0.67. Global Interactive Technologies has a one year low of $0.66 and a one year high of $7.09. The business has a 50 day moving average price of $1.85 and a two-hundred day moving average price of $1.87.

Global Interactive Technologies (NASDAQ:GITS) last issued its quarterly earnings data on Friday, May 22nd. The company reported ($0.88) EPS for the quarter. The business had revenue of $0.00 million during the quarter.

Institutional Trading of Global Interactive Technologies

A hedge fund recently bought a new stake in Global Interactive Technologies stock. Bank of America Corp DE acquired a new position in shares of Global Interactive Technologies, Inc. (NASDAQ:GITS) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 53,206 shares of the company’s stock, valued at approximately $119,000. Bank of America Corp DE owned approximately 1.45% of Global Interactive Technologies as of its most recent filing with the Securities and Exchange Commission. 0.22% of the stock is owned by institutional investors and hedge funds.

About Global Interactive Technologies

Global Interactive Technologies, Inc engages in the provision of a global multi-media platform for users to interact with other like-minded users to share appreciation of various types of entertainment and cultures such as K-POP and modern Korean culture. It operates through the FANTOO platform. The company was founded on October 20, 2021 and is headquartered in Seoul, South Korea.