Health In Tech (NASDAQ:HIT) Stock Price Down 5.7% – Here’s What Happened

Shares of Health In Tech, Inc. (NASDAQ:HIT) were down 5.7% on Thursday . The stock traded as low as $0.9937 and last traded at $0.9999. Approximately 163,956 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 234,423 shares. The stock had previously closed at $1.06.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Health In Tech from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Health In Tech currently has an average rating of “Moderate Buy” and a consensus price target of $2.50.

Health In Tech Stock Down 5.7%

The firm has a market capitalization of $56.90 million, a PE ratio of 33.33 and a beta of 8.53. The company has a 50-day moving average of $1.39 and a 200 day moving average of $2.24.

Health In Tech (NASDAQ:HIT) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $8.49 million during the quarter, compared to analysts’ expectations of $7.05 million.

Institutional Investors Weigh In On Health In Tech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Health In Tech in the third quarter worth approximately $45,000. Squarepoint Ops LLC purchased a new position in shares of Health In Tech during the 3rd quarter valued at $46,000. Millennium Management LLC purchased a new stake in Health In Tech in the 3rd quarter worth $85,000. Cubist Systematic Strategies LLC bought a new position in Health In Tech during the first quarter valued at approximately $41,000. Finally, Jane Street Group LLC bought a new position in shares of Health In Tech in the 1st quarter valued at about $48,000.

Health In Tech Company Profile

Health in Tech, Inc engages in the provision of insurance technology platforms which offer a marketplace of processes in the healthcare industry. Its services include Stone Mountain Risk, eDIYBS, HI Card, HI Performance Network, and Ancillary Products. The company was founded by Tim Johnson in 2014 and is headquartered in Stuart, FL.