Global Interactive Technologies, Inc. (NASDAQ:GITS) Sees Significant Growth in Short Interest

Global Interactive Technologies, Inc. (NASDAQ:GITS) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 106,146 shares, a growth of 363.2% from the December 15th total of 22,916 shares. Based on an average daily volume of 81,380 shares, the days-to-cover ratio is presently 1.3 days. Currently, 3.2% of the shares of the company are short sold. Currently, 3.2% of the shares of the company are short sold. Based on an average daily volume of 81,380 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Trading of Global Interactive Technologies

A hedge fund recently bought a new stake in Global Interactive Technologies stock. Citadel Advisors LLC purchased a new position in shares of Global Interactive Technologies, Inc. (NASDAQ:GITS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 17,900 shares of the company’s stock, valued at approximately $41,000. Citadel Advisors LLC owned approximately 0.49% of Global Interactive Technologies as of its most recent filing with the Securities and Exchange Commission. 0.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Global Interactive Technologies in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Global Interactive Technologies Stock Up 1.1%

Shares of GITS traded up $0.01 during mid-day trading on Tuesday, reaching $0.80. 13,372 shares of the company’s stock were exchanged, compared to its average volume of 23,692. Global Interactive Technologies has a 52-week low of $0.66 and a 52-week high of $5.06. The company has a market cap of $2.94 million, a price-to-earnings ratio of -1.36 and a beta of -0.57. The company has a 50-day simple moving average of $1.14 and a two-hundred day simple moving average of $1.90.

Global Interactive Technologies (NASDAQ:GITS) last announced its earnings results on Wednesday, November 12th. The company reported ($0.17) EPS for the quarter. The business had revenue of $1.84 million during the quarter.

Global Interactive Technologies Company Profile

Global Interactive Technologies, Inc engages in the provision of a global multi-media platform for users to interact with other like-minded users to share appreciation of various types of entertainment and cultures such as K-POP and modern Korean culture. It operates through the FANTOO platform. The company was founded on October 20, 2021 and is headquartered in Seoul, South Korea.