Short Interest in Global Interactive Technologies, Inc. (NASDAQ:GITS) Expands By 567.7%

Global Interactive Technologies, Inc. (NASDAQ:GITS) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 163,934 shares, a growth of 567.7% from the June 15th total of 24,553 shares. Currently, 4.9% of the company’s shares are short sold. Based on an average daily volume of 3,716,702 shares, the days-to-cover ratio is currently 0.0 days.

Global Interactive Technologies Trading Down 3.8%

NASDAQ GITS traded down $0.08 on Monday, reaching $2.00. The stock had a trading volume of 6,823 shares, compared to its average volume of 1,547,065. Global Interactive Technologies has a 1 year low of $0.66 and a 1 year high of $7.09. The business has a 50 day moving average price of $1.82 and a 200 day moving average price of $1.99. The company has a market capitalization of $7.35 million, a price-to-earnings ratio of -1.42 and a beta of -0.66.

Global Interactive Technologies (NASDAQ:GITS) last announced its quarterly earnings results on Monday, June 22nd. The company reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $0.00 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Global Interactive Technologies stock. Bank of America Corp DE acquired a new position in Global Interactive Technologies, Inc. (NASDAQ:GITS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,206 shares of the company’s stock, valued at approximately $119,000. Bank of America Corp DE owned approximately 1.45% of Global Interactive Technologies at the end of the most recent quarter. 0.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Global Interactive Technologies in a research note on Wednesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Global Interactive Technologies has a consensus 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.