Lite Strategy (NASDAQ:LITS) Posts Earnings Results

Lite Strategy (NASDAQ:LITS) released its quarterly earnings data on Thursday. The company reported $0.48 earnings per share (EPS) for the quarter, FiscalAI reports.

Lite Strategy Stock Up 5.4%

Shares of Lite Strategy stock traded up $0.05 during trading on Friday, hitting $1.02. 130,115 shares of the stock traded hands, compared to its average volume of 395,196. The firm’s fifty day moving average is $1.17 and its 200-day moving average is $1.09. The stock has a market cap of $31.17 million, a price-to-earnings ratio of -0.52 and a beta of 0.17. Lite Strategy has a 52 week low of $0.69 and a 52 week high of $2.26.

Institutional Trading of Lite Strategy

Hedge funds have recently added to or reduced their stakes in the business. ADAR1 Capital Management LLC purchased a new position in shares of Lite Strategy in the second quarter worth about $62,000. BlackRock Inc. purchased a new position in shares of Lite Strategy in the second quarter worth $254,000. GSA Capital Partners LLP bought a new stake in Lite Strategy during the 2nd quarter valued at $57,000. Finally, Renaissance Technologies LLC grew its holdings in Lite Strategy by 13.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock worth $2,024,000 after acquiring an additional 203,278 shares during the last quarter. 52.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LITS shares. Weiss Ratings raised shares of Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. Wall Street Zen upgraded shares of Lite Strategy from a “strong sell” rating to a “sell” rating in a research report on Sunday, October 4th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has a consensus rating of “Sell”.

Lite Strategy Company Profile