Lite Strategy (NASDAQ:LITS) Stock Rating Upgraded by Wall Street Zen

Lite Strategy (NASDAQ:LITS) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Saturday.

Lite Strategy Price Performance

Shares of Lite Strategy stock opened at $1.17 on Friday. The firm has a market cap of $39.82 million, a price-to-earnings ratio of -0.88 and a beta of 0.25. The business has a fifty day simple moving average of $1.17 and a 200-day simple moving average of $1.38. Lite Strategy has a fifty-two week low of $0.95 and a fifty-two week high of $9.00.

Lite Strategy (NASDAQ:LITS) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.66) earnings per share for the quarter.

Institutional Investors Weigh In On Lite Strategy

Several hedge funds have recently modified their holdings of LITS. Geode Capital Management LLC purchased a new stake in shares of Lite Strategy during the fourth quarter valued at $437,000. Renaissance Technologies LLC purchased a new stake in shares of Lite Strategy during the fourth quarter valued at $2,035,000. HRT Financial LP purchased a new stake in shares of Lite Strategy during the fourth quarter valued at $42,000. Jane Street Group LLC purchased a new stake in shares of Lite Strategy during the fourth quarter valued at $200,000. Finally, State Street Corp purchased a new stake in shares of Lite Strategy during the fourth quarter valued at $152,000. 52.38% of the stock is owned by hedge funds and other institutional investors.

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.