Short Interest in Hitek Global Inc. (NASDAQ:HKIT) Increases By 130.6%

Hitek Global Inc. (NASDAQ:HKIT) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 13,040 shares, an increase of 130.6% from the August 15th total of 5,655 shares. Based on an average daily volume of 182,589 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are sold short.

Hitek Global Stock Down 6.2%

Shares of NASDAQ HKIT opened at $2.42 on Wednesday. The stock’s fifty day moving average price is $3.14 and its two-hundred day moving average price is $618.13. Hitek Global has a one year low of $2.36 and a one year high of $15,675.00.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Hitek Global in a research report on Tuesday, July 21st. Wall Street Zen raised shares of Hitek Global to a “hold” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

About Hitek Global

Hitek Global Inc provides information technology (IT) consulting and solutions to small and medium businesses in various industry sectors in China. It offers anti-counterfeiting tax control system (ACTCS) tax devices, including golden tax disk and printers, ACTCS services, and IT services; and sells software and hardware to large businesses, such as laptops, printers, desktop computers, and related accessories, as well as Internet servers, cameras, and monitors. The company was founded in 1996 and is headquartered in Xiamen, China.