Hitek Global Inc. (NASDAQ:HKIT) Short Interest Up 130.6% in August

Hitek Global Inc. (NASDAQ:HKIT) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 13,040 shares, an increase of 130.6% from the August 15th total of 5,655 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 182,589 shares, the days-to-cover ratio is presently 0.1 days.

Hitek Global Stock Performance

HKIT stock opened at $2.44 on Monday. Hitek Global has a fifty-two week low of $2.36 and a fifty-two week high of $15,675.00. The business’s 50 day moving average price is $3.21 and its two-hundred day moving average price is $724.04.

Institutional Investors Weigh In On Hitek Global

A hedge fund recently bought a new position in Hitek Global stock. Susquehanna International Group LLP acquired a new position in Hitek Global Inc. (NASDAQ:HKIT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned approximately 0.29% of Hitek Global at the end of the most recent quarter. Institutional investors own 1.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on HKIT shares. Weiss Ratings restated a “sell (d)” rating on shares of Hitek Global in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Hitek Global to a “hold” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

About Hitek Global

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.