Hitek Global Inc. (NASDAQ:HKIT) Short Interest Up 130.6% in August

Hitek Global Inc. (NASDAQ:HKIT) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 13,040 shares, an increase of 130.6% from the August 15th total of 5,655 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 182,589 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Ratings Changes

HKIT has been the topic of several research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Hitek Global in a research note on Tuesday, July 21st. Wall Street Zen raised shares of Hitek Global to a “hold” rating in a research note on Saturday, May 30th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Hitek Global currently has a consensus rating of “Sell”.

Institutional Trading of Hitek Global

An institutional investor recently bought a new position 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 currently owned by institutional investors and hedge funds.

Hitek Global Stock Performance

NASDAQ:HKIT opened at $2.44 on Monday. The company has a fifty day moving average of $3.21 and a 200 day moving average of $724.04. Hitek Global has a 52 week low of $2.36 and a 52 week high of $15,675.00.

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.