Lite Strategy (NASDAQ:LITS) Stock Rating Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Lite Strategy (NASDAQ:LITS) from a sell rating to a strong sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Lite Strategy Trading Up 0.7%

Shares of Lite Strategy stock opened at $1.44 on Friday. Lite Strategy has a twelve month low of $0.69 and a twelve month high of $2.97. The stock has a market cap of $49.00 million, a price-to-earnings ratio of -0.90 and a beta of 0.21. The company has a fifty day moving average price of $1.03 and a 200 day moving average price of $1.04.

Hedge Funds Weigh In On Lite Strategy

Institutional investors have recently made changes to their positions in the business. ADAR1 Capital Management LLC purchased a new position in shares of Lite Strategy during the 2nd quarter valued at approximately $62,000. BlackRock Inc. bought a new stake in shares of Lite Strategy in the second quarter worth $254,000. GSA Capital Partners LLP acquired a new stake in Lite Strategy in the second quarter valued at $57,000. Renaissance Technologies LLC raised its holdings in Lite Strategy by 13.2% in the first quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock valued at $2,024,000 after acquiring an additional 203,278 shares in the last quarter. Finally, Mozayyx Management LLC bought a new position in Lite Strategy during the 4th quarter valued at $739,000. 52.38% of the stock is owned by institutional investors and hedge funds.

Lite Strategy Company Profile