Lite Strategy (NASDAQ:LITS) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Lite Strategy (NASDAQ:LITS) from a sell rating to a strong sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Lite Strategy currently has a consensus rating of “Sell”.

Lite Strategy Trading Down 5.6%

Shares of LITS opened at $1.36 on Friday. Lite Strategy has a 12-month low of $0.69 and a 12-month high of $2.97. The stock has a market cap of $46.28 million, a P/E ratio of -0.85 and a beta of 0.21. The company has a 50-day moving average of $1.04 and a two-hundred day moving average of $1.04.

Lite Strategy (NASDAQ:LITS) last issued its quarterly earnings data on Monday, September 28th. The company reported ($0.38) earnings per share for the quarter.

Institutional Trading of Lite Strategy

A number of hedge funds have recently bought and sold shares of LITS. ADAR1 Capital Management LLC purchased a new position in shares of Lite Strategy during the 2nd quarter worth $62,000. BlackRock Inc. acquired a new position in Lite Strategy in the second quarter valued at $254,000. GSA Capital Partners LLP purchased a new position in Lite Strategy during the second quarter worth about $57,000. Renaissance Technologies LLC boosted its stake 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 buying an additional 203,278 shares during the last quarter. Finally, Mozayyx Management LLC acquired a new stake in Lite Strategy in the 4th quarter worth about $739,000. Institutional investors and hedge funds own 52.38% of the company’s stock.

About Lite Strategy