Hitek Global Inc. (NASDAQ:HKIT) Short Interest Update

Hitek Global Inc. (NASDAQ:HKIT) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 150,014 shares, a decline of 79.0% from the June 15th total of 713,270 shares. Approximately 107.2% of the shares of the company are short sold. Based on an average trading volume of 17,402,290 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Trading of Hitek Global

An institutional investor recently bought a new stake in Hitek Global stock. XTX Topco Ltd bought a new stake in Hitek Global Inc. (NASDAQ:HKIT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 11,063 shares of the company’s stock, valued at approximately $25,000. Institutional investors and hedge funds own 1.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on HKIT. Weiss Ratings reiterated a “sell (d)” rating on shares of Hitek Global in a report on Friday, April 24th. Wall Street Zen upgraded Hitek Global to a “hold” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Hitek Global presently has a consensus rating of “Sell”.

Hitek Global Stock Down 4.9%

Shares of HKIT traded down $0.20 during midday trading on Monday, reaching $3.92. 71,880 shares of the stock were exchanged, compared to its average volume of 459,790. The stock’s 50 day simple moving average is $25.08 and its 200 day simple moving average is $3,100.64. Hitek Global has a twelve month low of $3.65 and a twelve month high of $15,675.00.

Hitek Global (NASDAQ:HKIT) last released its quarterly earnings results on Friday, April 24th. The company reported $57.00 EPS for the quarter. The business had revenue of $2.90 million for the quarter.

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. The company was founded in 1996 and is headquartered in Xiamen, China.