Hitek Global Inc. (NASDAQ:HKIT) Sees Large Decrease in Short Interest

Hitek Global Inc. (NASDAQ:HKIT) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 8,100 shares, a drop of 38.6% from the September 30th total of 13,200 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 30,900 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 30,900 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s shares are sold short.

Hitek Global Price Performance

HKIT stock traded up $0.07 during trading on Monday, reaching $2.04. The company had a trading volume of 36,867 shares, compared to its average volume of 24,973. The firm has a 50-day simple moving average of $1.80 and a 200-day simple moving average of $1.52. The company has a quick ratio of 14.21, a current ratio of 14.27 and a debt-to-equity ratio of 0.07. Hitek Global has a twelve month low of $1.15 and a twelve month high of $2.41.

Analysts Set New Price Targets

Separately, Weiss Ratings started coverage on shares of Hitek Global in a research report on Thursday. They set a “sell (d)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Hitek Global currently has a consensus rating of “Sell”.

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.