Lite Strategy (NASDAQ:LITS) Stock Sees Unusually High Call Option Buying

Lite Strategy, Inc. (NASDAQ:LITS) was the target of unusually large options trading on Thursday. Stock investors acquired 4,098 call options on the stock. This represents an increase of 1,513% compared to the typical daily volume of 254 call options.

Lite Strategy Trading Up 2.7%

Lite Strategy stock traded up $0.04 during midday trading on Thursday, hitting $1.35. 617,046 shares of the stock were exchanged, compared to its average volume of 398,032. The stock’s 50-day simple moving average is $1.05 and its 200 day simple moving average is $1.05. Lite Strategy has a fifty-two week low of $0.69 and a fifty-two week high of $2.97. The stock has a market capitalization of $41.20 million, a price-to-earnings ratio of -0.68 and a beta of 0.21.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LITS. Renaissance Technologies LLC increased its stake in Lite Strategy by 13.2% during the first quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock worth $2,024,000 after acquiring an additional 203,278 shares during the last quarter. Mozayyx Management LLC acquired a new position in shares of Lite Strategy in the 4th quarter valued at $739,000. BlackRock Inc. acquired a new position in shares of Lite Strategy in the 2nd quarter valued at $254,000. ADAR1 Capital Management LLC purchased a new position in shares of Lite Strategy during the 2nd quarter worth $62,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Lite Strategy during the 2nd quarter worth $57,000. 52.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LITS has been the subject of several recent research reports. Weiss Ratings raised Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th. Wall Street Zen lowered Lite Strategy from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 26th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

About Lite Strategy