Health In Tech, Inc. (NASDAQ:HIT) Short Interest Down 47.0% in June

Health In Tech, Inc. (NASDAQ:HIT) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 565,388 shares, a decline of 47.0% from the June 15th total of 1,066,152 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 122,412 shares, the short-interest ratio is currently 4.6 days.

Health In Tech Stock Up 2.9%

Shares of HIT stock traded up $0.03 during trading hours on Thursday, hitting $1.07. 73,567 shares of the company were exchanged, compared to its average volume of 263,096. The firm has a fifty day moving average of $1.07 and a 200 day moving average of $1.33. Health In Tech has a 1 year low of $0.85 and a 1 year high of $4.02. The firm has a market cap of $70.12 million, a PE ratio of -53.50 and a beta of 2.88.

Health In Tech (NASDAQ:HIT) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $8.77 million for the quarter.

Analyst Upgrades and Downgrades

HIT has been the topic of a number of analyst reports. Craig Hallum initiated coverage on shares of Health In Tech in a research report on Monday, April 20th. They set a “buy” rating and a $4.00 target price on the stock. Wall Street Zen lowered Health In Tech from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Health In Tech in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $4.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Health In Tech by 46.6% in the fourth quarter. Geode Capital Management LLC now owns 170,502 shares of the company’s stock valued at $271,000 after acquiring an additional 54,217 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Health In Tech during the fourth quarter worth about $214,000. XTX Topco Ltd purchased a new position in shares of Health In Tech in the 4th quarter worth about $203,000. Ancora Advisors LLC purchased a new position in shares of Health In Tech in the 3rd quarter worth about $389,000. Finally, Two Sigma Investments LP acquired a new position in shares of Health In Tech in the 3rd quarter valued at about $386,000.

About Health In Tech

Health in Tech, Inc engages in the provision of insurance technology platforms which offer a marketplace of processes in the healthcare industry. Its services include Stone Mountain Risk, eDIYBS, HI Card, HI Performance Network, and Ancillary Products. The company was founded by Tim Johnson in 2014 and is headquartered in Stuart, FL.