Global Interactive Technologies, Inc. (NASDAQ:GITS) Shares Shorted: Short Interest Down 68.4% in September

Global Interactive Technologies, Inc. (NASDAQ:GITS) saw a significant decrease in short interest in September. As of September 30th, there was short interest totaling 5,024 shares, a decrease of 68.4% from the September 15th total of 15,899 shares. Based on an average daily volume of 25,103 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Global Interactive Technologies stock. Bank of America Corp DE acquired a new stake in shares of Global Interactive Technologies, Inc. (NASDAQ:GITS) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 53,206 shares of the company’s stock, valued at approximately $119,000. Bank of America Corp DE owned 1.45% of Global Interactive Technologies as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Global Interactive Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, Global Interactive Technologies has an average rating of “Sell”.

Global Interactive Technologies Stock Performance

Shares of Global Interactive Technologies stock remained flat at $1.51 on Monday. 24,870 shares of the stock traded hands, compared to its average volume of 1,067,181. The stock’s 50-day moving average is $2.00 and its 200-day moving average is $1.98. Global Interactive Technologies has a fifty-two week low of $0.66 and a fifty-two week high of $7.09. The company has a market cap of $6.34 million, a P/E ratio of -1.05 and a beta of -0.59.

Global Interactive Technologies (NASDAQ:GITS) last posted its earnings results on Wednesday, September 9th. The company reported ($0.25) EPS for the quarter. The business had revenue of $0.00 million for the quarter.

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.