Health In Tech, Inc. (NASDAQ:HIT) Sees Significant Increase in Short Interest

Health In Tech, Inc. (NASDAQ:HIT) saw a significant growth in short interest in February. As of February 27th, there was short interest totaling 184,486 shares, a growth of 25.0% from the February 12th total of 147,645 shares. Based on an average daily trading volume, of 92,641 shares, the short-interest ratio is presently 2.0 days. Approximately 0.3% of the shares of the stock are short sold. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 92,641 shares, the short-interest ratio is presently 2.0 days.

Health In Tech Stock Performance

HIT traded down $0.14 on Friday, reaching $1.80. The company had a trading volume of 149,493 shares, compared to its average volume of 188,294. Health In Tech has a 52-week low of $0.51 and a 52-week high of $4.02. The company has a market cap of $102.44 million, a price-to-earnings ratio of 60.00 and a beta of 7.93. The business has a 50 day simple moving average of $1.38 and a 200 day simple moving average of $2.03.

Institutional Trading of Health In Tech

A number of hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new position in Health In Tech in the first quarter valued at $41,000. Raymond James Financial Inc. bought a new stake in Health In Tech during the third quarter worth about $45,000. Squarepoint Ops LLC bought a new stake in Health In Tech during the third quarter worth about $46,000. Jane Street Group LLC purchased a new position in shares of Health In Tech in the 1st quarter worth about $48,000. Finally, Millennium Management LLC purchased a new position in shares of Health In Tech in the 3rd quarter worth about $85,000.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Health In Tech from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2.50.

About Health In Tech

Health in Tech, Inc engages in the provision of insurance technology platforms which offer a marketplace of processes in the healthcare industry. Its services include Stone Mountain Risk, eDIYBS, HI Card, HI Performance Network, and Ancillary Products. The company was founded by Tim Johnson in 2014 and is headquartered in Stuart, FL.