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

Hitek Global Inc. (NASDAQ:HKIT) was the target of a significant decline in short interest in January. As of January 30th, there was short interest totaling 366,390 shares, a decline of 26.6% from the January 15th total of 499,331 shares. Based on an average daily trading volume, of 69,800 shares, the days-to-cover ratio is currently 5.2 days. Approximately 2.5% of the company’s stock are sold short. Approximately 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 69,800 shares, the days-to-cover ratio is currently 5.2 days.

Hedge Funds Weigh In On Hitek Global

An institutional investor recently bought a new position in Hitek Global stock. Susquehanna International Group LLP bought a new stake in Hitek Global Inc. (NASDAQ:HKIT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned about 0.29% of Hitek Global at the end of the most recent quarter. Hedge funds and other institutional investors own 1.19% of the company’s stock.

Hitek Global Stock Performance

NASDAQ HKIT opened at $1.97 on Friday. The company has a fifty day moving average of $1.99 and a two-hundred day moving average of $1.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 14.21 and a current ratio of 14.27. Hitek Global has a 1 year low of $1.16 and a 1 year high of $4.18.

Hitek Global (NASDAQ:HKIT) last announced its earnings results on Wednesday, October 22nd. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $0.37 million for the quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Hitek Global to a “sell” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hitek Global in a research report on Tuesday, January 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Hitek Global Company Profile

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.