Hitek Global Inc. (NASDAQ:HKIT) Short Interest Down 32.6% in March

Hitek Global Inc. (NASDAQ:HKIT) saw a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 179,334 shares, a drop of 32.6% from the February 26th total of 266,045 shares. Based on an average daily trading volume, of 137,765 shares, the days-to-cover ratio is presently 1.3 days.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HKIT shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hitek Global in a report on Tuesday, January 27th. Wall Street Zen raised shares of Hitek Global to a “sell” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On Hitek Global

An institutional investor recently bought a new position in Hitek Global stock. Susquehanna International Group LLP bought a new stake in Hitek Global Inc. (NASDAQ:HKIT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned approximately 0.29% of Hitek Global as of its most recent SEC filing. Hedge funds and other institutional investors own 1.19% of the company’s stock.

Hitek Global Stock Performance

HKIT stock traded down $0.00 during mid-day trading on Friday, reaching $0.06. 813,583,185 shares of the stock traded hands, compared to its average volume of 9,427,030. Hitek Global has a 52-week low of $0.03 and a 52-week high of $4.18. The stock’s fifty day moving average is $1.52 and its 200-day moving average is $1.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 14.27 and a quick ratio of 14.21.

Hitek Global Company Profile

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.