Lite Strategy (NASDAQ:LITS) Posts Earnings Results

Lite Strategy (NASDAQ:LITS) released its quarterly earnings results on Wednesday. The company reported ($0.66) earnings per share for the quarter, FiscalAI reports.

Lite Strategy Stock Performance

LITS stock traded up $0.02 during mid-day trading on Thursday, hitting $1.20. The company had a trading volume of 27,469 shares, compared to its average volume of 348,436. The firm has a market cap of $43.45 million, a PE ratio of -0.88 and a beta of 0.25. Lite Strategy has a 12 month low of $0.95 and a 12 month high of $9.00. The stock’s fifty day moving average price is $1.17 and its two-hundred day moving average price is $1.39.

Institutional Investors Weigh In On Lite Strategy

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new position in Lite Strategy during the fourth quarter valued at $2,035,000. Marshall Wace LLP bought a new stake in shares of Lite Strategy in the fourth quarter valued at $1,002,000. Mozayyx Management LLC purchased a new position in shares of Lite Strategy during the 4th quarter valued at $739,000. Geode Capital Management LLC bought a new position in shares of Lite Strategy during the 4th quarter worth $437,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in Lite Strategy in the 4th quarter worth about $365,000. Institutional investors own 52.38% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Lite Strategy from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Lite Strategy has an average rating of “Sell”.

Lite Strategy Company Profile

MEI Pharma, Inc, a late-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor that is in Phase III clinical trial for the treatment of patients with relapsed/refractory follicular lymphoma, as well as in Phase Ib multi-arm trial to treat B-cell malignancies; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies.