Short Interest in Global Interactive Technologies, Inc. (NASDAQ:GITS) Declines By 44.2%

Global Interactive Technologies, Inc. (NASDAQ:GITS) saw a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 59,666 shares, a decline of 44.2% from the February 26th total of 106,989 shares. Based on an average trading volume of 59,560 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.8% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Global Interactive Technologies in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Global Interactive Technologies

A hedge fund recently bought a new stake in Global Interactive Technologies stock. Citadel Advisors LLC bought a new stake in Global Interactive Technologies, Inc. (NASDAQ:GITS) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 17,900 shares of the company’s stock, valued at approximately $41,000. Citadel Advisors LLC owned 0.49% of Global Interactive Technologies at the end of the most recent reporting period. Institutional investors and hedge funds own 0.22% of the company’s stock.

Global Interactive Technologies Stock Performance

Global Interactive Technologies stock traded down $0.12 during midday trading on Friday, hitting $2.28. 15,817 shares of the company were exchanged, compared to its average volume of 53,219. The business has a fifty day simple moving average of $2.59 and a two-hundred day simple moving average of $1.92. The firm has a market capitalization of $8.37 million, a PE ratio of -3.86 and a beta of -0.53. Global Interactive Technologies has a fifty-two week low of $0.66 and a fifty-two week high of $7.09.

About Global Interactive Technologies

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.