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

Global Interactive Technologies, Inc. (NASDAQ:GITS) was the target of a large drop in short interest in February. As of February 13th, there was short interest totaling 96,340 shares, a drop of 76.4% from the January 29th total of 408,746 shares. Based on an average trading volume of 183,321 shares, the short-interest ratio is currently 0.5 days. Approximately 2.9% of the company’s stock are sold short. Approximately 2.9% of the company’s stock are sold short. Based on an average trading volume of 183,321 shares, the short-interest ratio is currently 0.5 days.

Global Interactive Technologies Stock Down 24.6%

Global Interactive Technologies stock traded down $0.78 during mid-day trading on Friday, reaching $2.39. 127,559 shares of the company’s stock were exchanged, compared to its average volume of 1,025,532. The business’s fifty day simple moving average is $1.89 and its 200 day simple moving average is $1.88. Global Interactive Technologies has a one year low of $0.66 and a one year high of $7.09. The firm has a market capitalization of $8.77 million, a PE ratio of -4.05 and a beta of -0.86.

Hedge Funds Weigh In On Global Interactive Technologies

A hedge fund recently bought a new stake in Global Interactive Technologies stock. Citadel Advisors LLC bought a new stake in Global Interactive Technologies, Inc. (NASDAQ:GITS) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,900 shares of the company’s stock, valued at approximately $41,000. Citadel Advisors LLC owned about 0.49% of Global Interactive Technologies as of its most recent SEC filing. 0.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Global Interactive Technologies in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Global Interactive Technologies presently 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.