Hitek Global Inc. (NASDAQ:HKIT) Short Interest Update

Hitek Global Inc. (NASDAQ:HKIT) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 150,014 shares, a drop of 79.0% from the June 15th total of 713,270 shares. Based on an average daily trading volume, of 17,402,290 shares, the short-interest ratio is currently 0.0 days. Currently, 107.2% of the company’s shares are short sold.

Hitek Global Price Performance

Hitek Global stock traded down $0.20 during mid-day trading on Monday, reaching $3.92. 71,880 shares of the company’s stock were exchanged, compared to its average volume of 459,790. Hitek Global has a twelve month low of $3.65 and a twelve month high of $15,675.00. The company has a fifty day moving average of $25.08 and a 200-day moving average of $3,100.64.

Hitek Global (NASDAQ:HKIT) last posted its quarterly earnings results on Friday, April 24th. The company reported $57.00 EPS for the quarter. The business had revenue of $2.90 million during the quarter.

Analyst Ratings Changes

Several research firms recently issued reports on HKIT. Wall Street Zen upgraded Hitek Global to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings restated a “sell (d)” rating on shares of Hitek Global in a report on Friday, April 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Hitek Global currently has a consensus rating of “Sell”.

Institutional Trading of Hitek Global

A hedge fund recently bought a new position in Hitek Global stock. Susquehanna International Group LLP purchased a new position in Hitek Global Inc. (NASDAQ:HKIT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned about 0.29% of Hitek Global as of its most recent SEC filing. 1.19% of the stock is currently owned by institutional investors.

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.