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

Hitek Global Inc. (NASDAQ:HKIT) was the recipient of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 179,334 shares, a drop of 32.6% from the February 26th total of 266,045 shares. Based on an average daily volume of 137,765 shares, the short-interest ratio is presently 1.3 days.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Hitek Global

An institutional investor recently bought a new position in Hitek Global stock. Susquehanna International Group LLP purchased a new position in Hitek Global Inc. (NASDAQ:HKIT) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned 0.29% of Hitek Global at the end of the most recent reporting period. Institutional investors own 1.19% of the company’s stock.

Hitek Global Stock Down 27.3%

HKIT stock traded down $0.02 during trading on Monday, reaching $0.04. 104,985,582 shares of the company were exchanged, compared to its average volume of 50,327,276. Hitek Global has a 52-week low of $0.03 and a 52-week high of $4.18. The stock’s 50 day moving average price is $1.48 and its 200 day moving average price is $1.78. The company has a quick ratio of 14.21, a current ratio of 14.27 and a debt-to-equity ratio of 0.07.

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.