Fitell Corporation (NASDAQ:FTEL) Short Interest Up 40.0% in December

Fitell Corporation (NASDAQ:FTEL) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 202,481 shares, a growth of 40.0% from the December 15th total of 144,592 shares. Approximately 14.4% of the company’s stock are short sold. Based on an average daily trading volume, of 3,462,569 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 3,462,569 shares, the short-interest ratio is currently 0.1 days. Approximately 14.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

FTEL has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Fitell in a research note on Wednesday, October 8th. Wall Street Zen raised Fitell from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Fitell Price Performance

Shares of NASDAQ:FTEL traded down $0.05 on Friday, reaching $3.22. The company had a trading volume of 111,588 shares, compared to its average volume of 331,503. The stock has a 50-day moving average price of $5.63 and a 200 day moving average price of $40.26. Fitell has a twelve month low of $2.91 and a twelve month high of $1,427.20.

Fitell (NASDAQ:FTEL) last issued its quarterly earnings data on Friday, November 14th. The company reported $335,544.32 earnings per share for the quarter. The company had revenue of $1.28 million during the quarter.

Fitell Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, January 13th. Stockholders of record on Tuesday, December 30th were paid a $0.10 dividend. This represents a dividend yield of 2,931.0%. The ex-dividend date was Tuesday, December 30th.

Fitell announced that its board has initiated a share buyback plan on Monday, December 1st that permits the company to buyback $3.00 million in shares. This buyback authorization permits the company to purchase up to 265.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Fitell

An institutional investor recently raised its position in Fitell stock. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Fitell Corporation (NASDAQ:FTEL) by 114.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,500 shares of the company’s stock after buying an additional 35,966 shares during the quarter. Vanguard Personalized Indexing Management LLC owned about 0.32% of Fitell worth $34,000 as of its most recent SEC filing. Institutional investors own 0.10% of the company’s stock.

Fitell Company Profile

Fitell Corporation, together with its subsidiaries, operates as an online retailer of gym and fitness equipment for personal training studios and commercial gyms chains in Australia and Southeast Asia. The company sells fitness equipment, including home gym and commercial strength-training equipment; and cardio equipment, such as rowing machines, exercise bikes, treadmills, and other related products under the Muscle Motion, Rapid Motion, and FleetX brand names. It is also involved in the boutique fitness clubs licensing business.