Reitar Logtech Holdings Limited (NASDAQ:RITR) Short Interest Up 637.5% in July

Reitar Logtech Holdings Limited (NASDAQ:RITR) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 297,227 shares, an increase of 637.5% from the June 30th total of 40,303 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 689,663 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in Reitar Logtech in the 3rd quarter worth about $108,000. Citadel Advisors LLC acquired a new stake in shares of Reitar Logtech during the 3rd quarter valued at about $140,000. BNP Paribas Financial Markets acquired a new stake in shares of Reitar Logtech during the 3rd quarter valued at about $518,000. Finally, Geode Capital Management LLC bought a new stake in shares of Reitar Logtech in the 2nd quarter valued at approximately $131,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Reitar Logtech in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Reitar Logtech Stock Down 18.5%

NASDAQ RITR opened at $0.11 on Friday. Reitar Logtech has a 1-year low of $0.09 and a 1-year high of $7.68. The firm’s fifty day simple moving average is $0.43 and its 200-day simple moving average is $0.61.

About Reitar Logtech

Reitar Logtech Holdings Limited, through its subsidiaries, provides construction management and engineering design services. It operates in two segments, Asset Management and Professional Consultancy Services; and Construction Management and Engineering Design Services. The company provides construction management and engineering design services for cold storage facilities, automated warehouses, renovated offices, and tailor-made electrical systems. It also offers asset management services for construction projects, including refrigerated storages and warehouses; and professional consultancy services for construction projects, such as renovation works, interior designs and modification works of commercial units, and residential or commercial redevelopment works.