Reitar Logtech Holdings Limited (NASDAQ:RITR) Short Interest Up 637.5% in July

Reitar Logtech Holdings Limited (NASDAQ:RITR) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 297,227 shares, an increase of 637.5% from the June 30th total of 40,303 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 689,663 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new position in Reitar Logtech in the 3rd quarter valued at approximately $108,000. Geode Capital Management LLC purchased a new position in Reitar Logtech in the second quarter worth about $131,000. Citadel Advisors LLC bought a new stake in Reitar Logtech during the third quarter valued at approximately $140,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Reitar Logtech during the 3rd quarter worth $518,000.

Reitar Logtech Stock Performance

RITR stock opened at $0.11 on Monday. Reitar Logtech has a 52-week low of $0.09 and a 52-week high of $7.68. The firm has a 50 day moving average price of $0.43 and a 200-day moving average price of $0.61.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Reitar Logtech in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

About Reitar Logtech

Reitar Logtech Holdings Limited, through its subsidiaries, provides construction management and engineering design services. It operates in two segments, Asset Management and Professional Consultancy Services; and Construction Management and Engineering Design Services. The company provides construction management and engineering design services for cold storage facilities, automated warehouses, renovated offices, and tailor-made electrical systems. It also offers asset management services for construction projects, including refrigerated storages and warehouses; and professional consultancy services for construction projects, such as renovation works, interior designs and modification works of commercial units, and residential or commercial redevelopment works.