Lite Strategy, Inc. (NASDAQ:LITS) Stock Short Interest Report for October

Lite Strategy, Inc. (NASDAQ:LITS) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 108,535 shares, a decrease of 41.4% from the September 30th total of 185,289 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 578,797 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Lite Strategy

A number of large investors have recently added to or reduced their stakes in the stock. ADAR1 Capital Management LLC bought a new position in shares of Lite Strategy during the 2nd quarter valued at $62,000. BlackRock Inc. bought a new stake in shares of Lite Strategy in the second quarter worth $254,000. GSA Capital Partners LLP bought a new stake in shares of Lite Strategy in the second quarter worth $57,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Lite Strategy by 13.2% in the first quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock worth $2,024,000 after acquiring an additional 203,278 shares during the period. Institutional investors own 52.38% of the company’s stock.

Lite Strategy Trading Up 8.0%

NASDAQ:LITS traded up $0.08 during mid-day trading on Tuesday, reaching $1.04. The company’s stock had a trading volume of 70,366 shares, compared to its average volume of 396,437. The stock has a market cap of $31.78 million, a P/E ratio of -0.53 and a beta of 0.17. The firm’s fifty day moving average price is $1.17 and its two-hundred day moving average price is $1.09. Lite Strategy has a 12-month low of $0.69 and a 12-month high of $2.26.

Lite Strategy (NASDAQ:LITS) last announced its quarterly earnings results on Monday, September 28th. The company reported ($0.38) EPS for the quarter.

Wall Street Analysts Forecast Growth

LITS has been the subject of several analyst reports. Weiss Ratings raised shares of Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, October 26th. Wall Street Zen raised Lite Strategy from a “strong sell” rating to a “sell” rating in a research report on Sunday, October 4th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Lite Strategy Company Profile