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

Hitek Global Inc. (NASDAQ:HKIT) was the recipient of a significant decrease in short interest in June. As of June 30th, there was short interest totaling 150,014 shares, a decrease of 79.0% from the June 15th total of 713,270 shares. Approximately 107.2% of the shares of the company are sold short. Based on an average daily volume of 17,402,290 shares, the short-interest ratio is currently 0.0 days.

Hedge Funds Weigh In On Hitek Global

An institutional investor recently bought a new position in Hitek Global stock. Susquehanna International Group LLP purchased a new stake in Hitek Global Inc. (NASDAQ:HKIT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned about 0.29% of Hitek Global at the end of the most recent reporting period. 1.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on HKIT shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hitek Global in a report on Friday, April 24th. Wall Street Zen raised Hitek Global to a “hold” rating in a research note on Saturday, May 30th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Hitek Global currently has a consensus rating of “Sell”.

Hitek Global Stock Performance

HKIT stock traded down $0.16 during midday trading on Friday, hitting $4.12. 49,825 shares of the stock were exchanged, compared to its average volume of 548,035. The stock’s 50-day moving average price is $26.27 and its 200-day moving average price is $3,153.16. Hitek Global has a fifty-two week low of $3.65 and a fifty-two week high of $15,675.00.

Hitek Global (NASDAQ:HKIT) last posted its earnings results on Friday, April 24th. The company reported $57.00 earnings per share for the quarter. The firm had revenue of $2.90 million during the quarter.

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.