Lite Strategy (NASDAQ:LITS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Lite Strategy (NASDAQ:LITS) from a strong sell rating to a sell rating in a report published on Sunday 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, September 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Lite Strategy Price Performance

Shares of LITS stock opened at $1.41 on Friday. The company has a fifty day moving average price of $1.08 and a two-hundred day moving average price of $1.05. Lite Strategy has a one year low of $0.69 and a one year high of $2.97. The stock has a market cap of $42.88 million, a P/E ratio of -0.71 and a beta of 0.17.

Lite Strategy (NASDAQ:LITS) last released its quarterly earnings data on Monday, September 28th. The company reported ($0.38) earnings per share for the quarter.

Hedge Funds Weigh In On Lite Strategy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ADAR1 Capital Management LLC acquired a new stake in shares of Lite Strategy during the 2nd quarter worth about $62,000. BlackRock Inc. bought a new stake in shares of Lite Strategy during the 2nd quarter worth about $254,000. GSA Capital Partners LLP bought a new stake in shares of Lite Strategy during the 2nd quarter worth about $57,000. Renaissance Technologies LLC grew its stake in Lite Strategy by 13.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock valued at $2,024,000 after buying an additional 203,278 shares during the last quarter. Finally, Alpine Global Management LLC acquired a new position in Lite Strategy in the 4th quarter valued at about $66,000. 52.38% of the stock is owned by institutional investors.

About Lite Strategy