Hitek Global (NASDAQ:HKIT) Stock Jumps 3% – Here’s What Happened

Shares of Hitek Global Inc. (NASDAQ:HKIT) rose 3% on Tuesday. The stock traded as high as $3.48 and last traded at $2.6050. 12,803,563 shares were traded during trading, an increase of 1,780% from the average session volume of 681,002 shares. The stock had previously closed at $2.53.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Hitek Global in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Hitek Global Price Performance

The stock has a 50 day simple moving average of $2.68 and a two-hundred day simple moving average of $1,649.75.

Hitek Global (NASDAQ:HKIT) last released its earnings results on Friday, October 23rd. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $0.61 million for the quarter.

About Hitek Global

Hitek Global Inc is a technology services company that provides information technology solutions to small and medium-sized businesses in China. Through its operating subsidiaries, the company helps customers address their technology needs through a combination of IT products, implementation services and ongoing support.

Its business activities include the sale and deployment of computer hardware and software, systems integration, network and information technology infrastructure services, and related maintenance and technical support.