Hitek Global Inc. (NASDAQ:HKIT) Short Interest Up 311.5% in February

Hitek Global Inc. (NASDAQ:HKIT) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 10,700 shares, an increase of 311.5% from the January 31st total of 2,600 shares. Based on an average daily volume of 33,800 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Hitek Global stock. Citadel Advisors LLC purchased a new stake in Hitek Global Inc. (NASDAQ:HKIT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,884 shares of the company’s stock, valued at approximately $31,000. Citadel Advisors LLC owned approximately 0.15% of Hitek Global as of its most recent SEC filing. Hedge funds and other institutional investors own 1.19% of the company’s stock.

Hitek Global Price Performance

NASDAQ:HKIT opened at $1.23 on Friday. Hitek Global has a 12 month low of $1.00 and a 12 month high of $2.20. The business’s fifty day moving average price is $1.34 and its 200 day moving average price is $1.39.

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.