Global Interactive Technologies, Inc. (NASDAQ:GITS) Short Interest Update

Global Interactive Technologies, Inc. (NASDAQ:GITS) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 19,775 shares, an increase of 133.6% from the August 15th total of 8,464 shares. Based on an average trading volume of 185,963 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.6% of the company’s shares are short sold.

Global Interactive Technologies Stock Performance

Global Interactive Technologies stock traded down $0.01 during midday trading on Tuesday, reaching $2.37. The stock had a trading volume of 22,461 shares, compared to its average volume of 1,179,582. The stock’s 50-day simple moving average is $2.06 and its 200 day simple moving average is $2.06. Global Interactive Technologies has a twelve month low of $0.66 and a twelve month high of $7.09. The stock has a market capitalization of $9.94 million, a PE ratio of -1.64 and a beta of -0.64.

Global Interactive Technologies (NASDAQ:GITS) last announced its quarterly earnings results on Wednesday, September 9th. The company reported ($0.25) EPS for the quarter. The business had revenue of $0.00 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Global Interactive Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Global Interactive Technologies presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Global Interactive Technologies stock. Bank of America Corp DE acquired a new position in shares of Global Interactive Technologies, Inc. (NASDAQ:GITS) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 53,206 shares of the company’s stock, valued at approximately $119,000. Bank of America Corp DE owned 1.45% of Global Interactive Technologies as of its most recent SEC filing. Institutional investors and hedge funds own 0.22% of the company’s stock.

Global Interactive Technologies Company Profile

Global Interactive Technologies, Inc engages in the provision of a global multi-media platform for users to interact with other like-minded users to share appreciation of various types of entertainment and cultures such as K-POP and modern Korean culture. It operates through the FANTOO platform. The company was founded on October 20, 2021 and is headquartered in Seoul, South Korea.