Fitell Corporation (NASDAQ:FTEL) Sees Significant Decline in Short Interest

Fitell Corporation (NASDAQ:FTEL) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 26,401 shares, a decline of 87.0% from the December 31st total of 202,481 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average trading volume of 187,834 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 187,834 shares, the short-interest ratio is currently 0.1 days. Currently, 1.9% of the shares of the company are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Fitell stock. Vanguard Personalized Indexing Management LLC lifted its position in Fitell Corporation (NASDAQ:FTEL) by 114.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 67,500 shares of the company’s stock after purchasing an additional 35,966 shares during the quarter. Vanguard Personalized Indexing Management LLC owned 0.32% of Fitell worth $34,000 at the end of the most recent reporting period. 0.10% of the stock is currently owned by institutional investors and hedge funds.

Fitell Trading Down 5.1%

Fitell stock traded down $0.15 on Wednesday, hitting $2.80. The company’s stock had a trading volume of 209,093 shares, compared to its average volume of 311,338. Fitell has a one year low of $2.65 and a one year high of $1,418.48. The company has a fifty day moving average price of $5.03 and a 200-day moving average price of $36.03.

Fitell (NASDAQ:FTEL) last issued its earnings results on Friday, November 14th. The company reported $335,544.32 earnings per share for the quarter. The business had revenue of $1.28 million for the quarter.

Fitell Dividend Announcement

The business also recently announced a dividend, which was paid on Tuesday, January 13th. Investors of record on Tuesday, December 30th were given a dividend of $0.10 per share. This represents a dividend yield of 2,931.0%. The ex-dividend date was Tuesday, December 30th.

Fitell announced that its Board of Directors has approved a stock buyback plan on Monday, December 1st that authorizes the company to repurchase $3.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 265.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Fitell in a research report on Thursday, January 22nd. Wall Street Zen upgraded Fitell from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Fitell has an average rating of “Sell”.

Fitell Company Profile

Fitell Corporation, together with its subsidiaries, operates as an online retailer of gym and fitness equipment for personal training studios and commercial gyms chains in Australia and Southeast Asia. The company sells fitness equipment, including home gym and commercial strength-training equipment; and cardio equipment, such as rowing machines, exercise bikes, treadmills, and other related products under the Muscle Motion, Rapid Motion, and FleetX brand names. It is also involved in the boutique fitness clubs licensing business.