Lite Strategy (NASDAQ:LITS) Stock Lifted to “Hold” by Wall Street Zen

Lite Strategy (NASDAQ:LITS) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, October 26th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Lite Strategy currently has a consensus rating of “Sell”.

Lite Strategy Stock Performance

NASDAQ:LITS opened at $1.02 on Friday. The company has a market capitalization of $31.02 million, a price-to-earnings ratio of -0.52 and a beta of 0.17. Lite Strategy has a one year low of $0.69 and a one year high of $2.26. The stock has a 50-day simple moving average of $1.17 and a 200 day simple moving average of $1.09.

Lite Strategy (NASDAQ:LITS) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.48 earnings per share for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its holdings in Lite Strategy by 13.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock valued at $2,024,000 after buying an additional 203,278 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Lite Strategy during the second quarter valued at about $57,000. ADAR1 Capital Management LLC bought a new stake in shares of Lite Strategy in the second quarter worth about $62,000. Finally, BlackRock Inc. bought a new position in Lite Strategy during the second quarter worth about $254,000. Institutional investors own 52.38% of the company’s stock.

About Lite Strategy