Short Interest in Hitek Global Inc. (NASDAQ:HKIT) Declines By 21.1%

Hitek Global Inc. (NASDAQ:HKIT) was the recipient of a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 289,158 shares, a decline of 21.1% from the January 29th total of 366,390 shares. Based on an average daily volume of 11,357 shares, the days-to-cover ratio is currently 25.5 days. Based on an average daily volume of 11,357 shares, the days-to-cover ratio is currently 25.5 days.

Hedge Funds Weigh In On Hitek Global

A hedge fund recently bought a new stake in Hitek Global stock. Susquehanna International Group LLP bought a new stake in shares of Hitek Global Inc. (NASDAQ:HKIT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing. 1.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Hitek Global Stock Performance

Shares of NASDAQ:HKIT traded down $0.42 on Wednesday, reaching $0.83. The company had a trading volume of 902,805 shares, compared to its average volume of 13,418. The company has a current ratio of 14.27, a quick ratio of 14.21 and a debt-to-equity ratio of 0.07. Hitek Global has a 52-week low of $0.53 and a 52-week high of $4.18. The firm’s 50 day simple moving average is $1.99 and its 200-day simple moving average is $1.89.

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.