Fitell Corporation (NASDAQ:FTEL) Short Interest Update

Fitell Corporation (NASDAQ:FTEL) was the recipient of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 53,778 shares, an increase of 103.7% from the January 15th total of 26,401 shares. Based on an average trading volume of 397,152 shares, the days-to-cover ratio is presently 0.1 days. Currently, 3.8% of the company’s shares are sold short. Currently, 3.8% of the company’s shares are sold short. Based on an average trading volume of 397,152 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Fitell

A hedge fund recently raised its stake in Fitell stock. Vanguard Personalized Indexing Management LLC increased its stake in Fitell Corporation (NASDAQ:FTEL) by 114.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,500 shares of the company’s stock after buying an additional 35,966 shares during the period. Vanguard Personalized Indexing Management LLC owned about 0.32% of Fitell worth $34,000 at the end of the most recent reporting period. 0.10% of the stock is currently owned by hedge funds and other institutional investors.

Fitell Stock Up 2.6%

Shares of NASDAQ FTEL traded up $0.05 during trading on Friday, hitting $1.99. 28,687 shares of the company traded hands, compared to its average volume of 244,322. The company has a 50-day moving average price of $3.87 and a 200-day moving average price of $28.16. Fitell has a 1 year low of $1.73 and a 1 year high of $181.76.

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

Fitell Dividend Announcement

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

Fitell declared that its Board of Directors has approved a share repurchase program on Monday, December 1st that permits the company to repurchase $3.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 265.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have weighed in on FTEL shares. Wall Street Zen upgraded Fitell from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fitell in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Fitell currently has a consensus rating of “Sell”.

About Fitell

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.