Short Interest in Fitell Corporation (NASDAQ:FTEL) Rises By 40.0%

Fitell Corporation (NASDAQ:FTEL) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totaling 202,481 shares, an increase of 40.0% from the December 15th total of 144,592 shares. Based on an average daily volume of 3,462,569 shares, the short-interest ratio is currently 0.1 days. Approximately 14.4% of the company’s stock are short sold. Approximately 14.4% of the company’s stock are short sold. Based on an average daily volume of 3,462,569 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Fitell

An institutional investor recently raised its position in Fitell stock. Vanguard Personalized Indexing Management LLC grew its stake in Fitell Corporation (NASDAQ:FTEL) by 114.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,500 shares of the company’s stock after purchasing an additional 35,966 shares during the period. Vanguard Personalized Indexing Management LLC owned about 0.32% of Fitell worth $34,000 at the end of the most recent quarter. Institutional investors own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Fitell in a report on Wednesday, October 8th. Wall Street Zen raised Fitell from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Fitell Price Performance

NASDAQ:FTEL opened at $3.22 on Monday. Fitell has a 52 week low of $2.91 and a 52 week high of $1,427.20. The firm has a 50 day moving average of $5.63 and a 200 day moving average of $39.90.

Fitell (NASDAQ:FTEL) last released its quarterly earnings results on Friday, November 14th. The company reported $335,544.32 earnings per share (EPS) for the quarter. The firm had revenue of $1.28 million during the quarter.

Fitell announced that its board has authorized a stock repurchase program on Monday, December 1st that authorizes the company to buyback $3.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 265.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Fitell Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, January 13th. Stockholders of record on Tuesday, December 30th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, December 30th. This represents a dividend yield of 2,931.0%.

Fitell Company Profile

Fitell Corporation, together with its subsidiaries, operates as an online retailer of gym and fitness equipment for personal training studios and commercial gyms chains in Australia and Southeast Asia. The company sells fitness equipment, including home gym and commercial strength-training equipment; and cardio equipment, such as rowing machines, exercise bikes, treadmills, and other related products under the Muscle Motion, Rapid Motion, and FleetX brand names. It is also involved in the boutique fitness clubs licensing business.