Hitek Global (NASDAQ:HKIT) Raised to “Sell” at Wall Street Zen

Hitek Global (NASDAQ:HKIT) was upgraded by investment analysts at Wall Street Zen to a “sell” rating in a report released on Friday.

Separately, Weiss Ratings initiated coverage on Hitek Global in a research report on Thursday, October 30th. They set a “sell (d)” rating for the company. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Hitek Global Trading Down 5.2%

Shares of HKIT opened at $2.02 on Friday. Hitek Global has a 1 year low of $1.15 and a 1 year high of $4.18. The company has a debt-to-equity ratio of 0.07, a current ratio of 14.27 and a quick ratio of 14.21. The firm has a fifty day moving average of $1.89 and a 200-day moving average of $1.80.

Hitek Global (NASDAQ:HKIT) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.02) earnings per share for the quarter. The company had revenue of $0.37 million for the quarter.

Institutional Trading of Hitek Global

A hedge fund recently bought a new stake in Hitek Global stock. Susquehanna International Group LLP bought a new position in Hitek Global Inc. (NASDAQ:HKIT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned about 0.29% of Hitek Global at the end of the most recent reporting period. 1.19% of the stock is owned by institutional investors and hedge funds.

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.