Wall Street Zen Upgrades Lite Strategy (NASDAQ:LITS) to Sell

Lite Strategy (NASDAQ:LITS) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings raised Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Lite Strategy has a consensus rating of “Sell”.

Lite Strategy Price Performance

NASDAQ:LITS opened at $1.40 on Friday. The firm has a market capitalization of $42.57 million, a PE ratio of -0.71 and a beta of 0.17. The business’s fifty day moving average price is $1.07 and its 200 day moving average price is $1.05. Lite Strategy has a 12 month low of $0.69 and a 12 month high of $2.97.

Lite Strategy (NASDAQ:LITS) last posted its quarterly earnings results on Monday, September 28th. The company reported ($0.38) earnings per share for the quarter.

Institutional Investors Weigh In On Lite Strategy

Several hedge funds and other institutional investors have recently bought and sold shares of LITS. Renaissance Technologies LLC boosted its stake in Lite Strategy by 13.2% in the first quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock valued at $2,024,000 after acquiring an additional 203,278 shares in the last quarter. Mozayyx Management LLC acquired a new stake in shares of Lite Strategy during the fourth quarter worth about $739,000. BlackRock Inc. purchased a new stake in shares of Lite Strategy in the 2nd quarter valued at about $254,000. ADAR1 Capital Management LLC purchased a new stake in shares of Lite Strategy in the 2nd quarter valued at about $62,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Lite Strategy in the 2nd quarter valued at about $57,000. 52.38% of the stock is currently owned by institutional investors and hedge funds.

About Lite Strategy