Lite Strategy, Inc. (NASDAQ:LITS) Stock Short Interest Report for September

Lite Strategy, Inc. (NASDAQ:LITS – Get Free Report) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 185,289 shares, an increase of 121.3% from the September 15th total of 83,719 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average trading volume of 1,309,855 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Lite Strategy

A number of institutional investors and hedge funds have recently modified their holdings of LITS. Alpine Global Management LLC bought a new stake in shares of Lite Strategy in the 4th quarter valued at $66,000. GSA Capital Partners LLP acquired a new position in shares of Lite Strategy during the 2nd quarter valued at $57,000. ADAR1 Capital Management LLC acquired a new position in shares of Lite Strategy during the 2nd quarter valued at $62,000. BlackRock Inc. acquired a new position in shares of Lite Strategy during the 2nd quarter valued at $254,000. Finally, Mozayyx Management LLC bought a new position in Lite Strategy during the fourth quarter worth $739,000. 52.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings cut Lite Strategy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 9th. Wall Street Zen upgraded shares of Lite Strategy from a “strong sell” rating to a “sell” rating in a report on Sunday, October 4th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Get Our Latest Research Report on LITS

Lite Strategy Stock Performance

Shares of NASDAQ:LITS traded up $0.01 during midday trading on Thursday, reaching $1.18. The company’s stock had a trading volume of 164,219 shares, compared to its average volume of 406,234. Lite Strategy has a fifty-two week low of $0.69 and a fifty-two week high of $2.26. The firm has a 50 day moving average price of $1.11 and a two-hundred day moving average price of $1.05. The firm has a market capitalization of $35.73 million, a price-to-earnings ratio of -0.59 and a beta of 0.17.

Lite Strategy (NASDAQ:LITS – Get Free Report) last released its earnings results on Monday, September 28th. The company reported ($0.38) EPS for the quarter.

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