Lite Strategy (NASDAQ:LITS) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Lite Strategy (NASDAQ:LITS) from a sell rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Separately, 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. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, Lite Strategy currently has an average rating of “Sell”.

Lite Strategy Stock Up 4.9%

Shares of NASDAQ LITS opened at $1.02 on Friday. Lite Strategy has a 12 month low of $0.69 and a 12 month high of $2.26. The company has a market cap of $31.02 million, a P/E ratio of -0.52 and a beta of 0.17. The business’s 50 day moving average is $1.17 and its two-hundred day moving average is $1.09.

Lite Strategy (NASDAQ:LITS) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.48 earnings per share for the quarter.

Institutional Investors Weigh In On Lite Strategy

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

About Lite Strategy