Hitek Global Inc. (NASDAQ:HKIT) Short Interest Update

Hitek Global Inc. (NASDAQ:HKIT) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 713,270 shares, an increase of 2,513.2% from the May 31st total of 27,295 shares. Currently, 20.4% of the company’s shares are sold short. Based on an average daily volume of 76,703,794 shares, the days-to-cover ratio is presently 0.0 days.

Hedge Funds Weigh In On Hitek Global

An institutional investor recently bought a new position in Hitek Global stock. XTX Topco Ltd bought a new position in shares of Hitek Global Inc. (NASDAQ:HKIT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,063 shares of the company’s stock, valued at approximately $25,000. 1.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on HKIT. Weiss Ratings reiterated a “sell (d)” rating on shares of Hitek Global in a report on Friday, April 24th. Wall Street Zen upgraded Hitek Global to a “hold” rating in a research note on Saturday, May 30th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Hitek Global Stock Performance

Shares of HKIT stock traded down $0.05 during trading hours on Thursday, reaching $0.22. 3,126,621 shares of the company’s stock were exchanged, compared to its average volume of 43,983,876. The stock’s 50 day moving average is $1.65 and its 200-day moving average is $146.04. Hitek Global has a fifty-two week low of $0.20 and a fifty-two week high of $627.00.

Hitek Global (NASDAQ:HKIT) last issued its quarterly earnings results on Friday, April 24th. The company reported $2.28 earnings per share for the quarter. The business had revenue of $2.90 million during the quarter.

About Hitek Global

Hitek Global Inc provides information technology (IT) consulting and solutions to small and medium businesses in various industry sectors in China. It offers anti-counterfeiting tax control system (ACTCS) tax devices, including golden tax disk and printers, ACTCS services, and IT services; and sells software and hardware to large businesses, such as laptops, printers, desktop computers, and related accessories, as well as Internet servers, cameras, and monitors. The company was founded in 1996 and is headquartered in Xiamen, China.