Reitar Logtech Holdings Limited (NASDAQ:RITR) Short Interest Up 526.7% in August

Reitar Logtech Holdings Limited (NASDAQ:RITR) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 1,132,544 shares, a growth of 526.7% from the July 30th total of 180,723 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 239,166,083 shares, the short-interest ratio is currently 0.0 days.

Reitar Logtech Trading Up 8.5%

RITR stock traded up $0.01 during midday trading on Thursday, hitting $0.09. 241,663,573 shares of the company traded hands, compared to its average volume of 23,536,490. Reitar Logtech has a twelve month low of $0.05 and a twelve month high of $7.68. The business has a 50 day simple moving average of $0.24 and a 200-day simple moving average of $0.47. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10.

Reitar Logtech (NASDAQ:RITR) last released its earnings results on Monday, August 17th. The company reported ($0.12) earnings per share for the quarter. The business had revenue of $10.60 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Reitar Logtech from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On Reitar Logtech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new position in Reitar Logtech in the third quarter worth $108,000. Citadel Advisors LLC bought a new position in Reitar Logtech during the 3rd quarter valued at about $140,000. Geode Capital Management LLC bought a new position in shares of Reitar Logtech in the second quarter valued at approximately $131,000. Finally, BNP Paribas Financial Markets bought a new position in Reitar Logtech in the 3rd quarter valued at $518,000.

Reitar Logtech Company Profile

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.