Fitell Corporation (NASDAQ:FTEL) Short Interest Up 103.7% in January

Fitell Corporation (NASDAQ:FTEL) saw a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 53,778 shares, an increase of 103.7% from the January 15th total of 26,401 shares. Based on an average daily volume of 397,152 shares, the short-interest ratio is presently 0.1 days. Approximately 3.8% of the company’s shares are sold short. Approximately 3.8% of the company’s shares are sold short. Based on an average daily volume of 397,152 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Fitell from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fitell in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On Fitell

A hedge fund recently raised its stake in Fitell stock. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Fitell Corporation (NASDAQ:FTEL) by 114.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,500 shares of the company’s stock after purchasing an additional 35,966 shares during the period. Vanguard Personalized Indexing Management LLC owned 0.32% of Fitell worth $34,000 as of its most recent SEC filing. Institutional investors own 0.10% of the company’s stock.

Fitell Stock Down 3.0%

Fitell stock opened at $1.94 on Friday. Fitell has a fifty-two week low of $1.73 and a fifty-two week high of $181.76. The stock’s 50 day simple moving average is $3.96 and its two-hundred day simple moving average is $28.86.

Fitell (NASDAQ:FTEL) last announced its earnings results on Friday, November 14th. The company reported $335,544.32 earnings per share (EPS) for the quarter. The firm had revenue of $1.28 million during the quarter.

Fitell Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, January 13th. Stockholders of record on Tuesday, December 30th were issued a dividend of $0.10 per share. This represents a dividend yield of 2,931.0%. The ex-dividend date was Tuesday, December 30th.

Fitell announced that its board has authorized a share buyback program on Monday, December 1st that allows the company to repurchase $3.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 265.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

About Fitell

Fitell Corporation, together with its subsidiaries, operates as an online retailer of gym and fitness equipment for personal training studios and commercial gyms chains in Australia and Southeast Asia. The company sells fitness equipment, including home gym and commercial strength-training equipment; and cardio equipment, such as rowing machines, exercise bikes, treadmills, and other related products under the Muscle Motion, Rapid Motion, and FleetX brand names. It is also involved in the boutique fitness clubs licensing business.