Global Interactive Technologies, Inc. (NASDAQ:GITS) Sees Significant Decrease in Short Interest

Global Interactive Technologies, Inc. (NASDAQ:GITS) saw a large decline in short interest in July. As of July 15th, there was short interest totaling 76,378 shares, a decline of 53.4% from the June 30th total of 163,934 shares. Based on an average daily trading volume, of 29,632 shares, the days-to-cover ratio is currently 2.6 days. Currently, 2.3% of the shares of the stock are sold short.

Global Interactive Technologies Trading Up 1.4%

NASDAQ:GITS traded up $0.03 during midday trading on Tuesday, hitting $2.10. 12,176 shares of the company traded hands, compared to its average volume of 1,430,323. The firm’s fifty day moving average is $1.96 and its 200-day moving average is $2.10. Global Interactive Technologies has a 12-month low of $0.66 and a 12-month high of $7.09. The firm has a market capitalization of $7.71 million, a P/E ratio of -1.49 and a beta of -0.66.

Global Interactive Technologies (NASDAQ:GITS) last posted its quarterly earnings data on Monday, June 22nd. The company reported ($0.14) EPS for the quarter. The business had revenue of $0.00 million for the quarter.

Hedge Funds Weigh In On Global Interactive Technologies

A hedge fund recently bought a new position in Global Interactive Technologies stock. Citadel Advisors LLC acquired a new position in Global Interactive Technologies, Inc. (NASDAQ:GITS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 17,900 shares of the company’s stock, valued at approximately $41,000. Citadel Advisors LLC owned about 0.49% of Global Interactive Technologies at the end of the most recent reporting period. 0.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Global Interactive Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

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.