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

Hitek Global Inc. (NASDAQ:HKIT) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 10,684 shares, a decrease of 92.9% from the June 30th total of 150,014 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 206,442 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of Hitek Global

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

Analysts Set New Price Targets

HKIT has been the topic of a number of recent analyst reports. Wall Street Zen raised Hitek Global to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hitek Global in a research note on Tuesday. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Hitek Global Trading Up 7.6%

Shares of Hitek Global stock traded up $0.25 on Friday, hitting $3.56. 65,780 shares of the company traded hands, compared to its average volume of 451,746. Hitek Global has a 52 week low of $2.92 and a 52 week high of $15,675.00. The business has a 50-day simple moving average of $15.74 and a 200 day simple moving average of $2,581.93.

Hitek Global (NASDAQ:HKIT) last released its earnings results on Friday, April 24th. The company reported $57.00 EPS for the quarter. The company 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.