Hitek Global Inc. (NASDAQ:HKIT) Sees Large Growth in Short Interest

Hitek Global Inc. (NASDAQ:HKIT) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 499,331 shares, an increase of 33.6% from the December 31st total of 373,611 shares. Based on an average trading volume of 141,100 shares, the short-interest ratio is currently 3.5 days. Based on an average trading volume of 141,100 shares, the short-interest ratio is currently 3.5 days.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Hitek Global to a “sell” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hitek Global in a research report on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hitek Global stock. Susquehanna International Group LLP purchased a new stake in Hitek Global Inc. (NASDAQ:HKIT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned 0.29% of Hitek Global at the end of the most recent quarter. Institutional investors own 1.19% of the company’s stock.

Hitek Global Trading Down 2.0%

NASDAQ HKIT traded down $0.04 on Friday, hitting $1.92. 63,591 shares of the stock were exchanged, compared to its average volume of 102,754. The company has a debt-to-equity ratio of 0.07, a quick ratio of 14.21 and a current ratio of 14.27. The business’s fifty day moving average is $1.91 and its 200 day moving average is $1.82. Hitek Global has a 52 week low of $1.15 and a 52 week high of $4.18.

Hitek Global (NASDAQ:HKIT) last released its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $0.37 million for the quarter.

About Hitek Global

Hitek Global Inc provides information technology (IT) consulting and solutions to small and medium businesses in various industry sectors in China. It offers anti-counterfeiting tax control system (ACTCS) tax devices, including golden tax disk and printers, ACTCS services, and IT services; and sells software and hardware to large businesses, such as laptops, printers, desktop computers, and related accessories, as well as Internet servers, cameras, and monitors. The company was founded in 1996 and is headquartered in Xiamen, China.