Short Interest in Reitar Logtech Holdings Limited (NASDAQ:RITR) Drops By 21.4%

Reitar Logtech Holdings Limited (NASDAQ:RITR) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 141,498 shares, a decrease of 21.4% from the December 31st total of 179,955 shares. Based on an average trading volume of 309,052 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the company’s stock are sold short. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 309,052 shares, the days-to-cover ratio is presently 0.5 days.

Reitar Logtech Trading Down 12.0%

RITR stock traded down $0.12 during midday trading on Friday, hitting $0.88. 134,036 shares of the company traded hands, compared to its average volume of 214,955. Reitar Logtech has a twelve month low of $0.83 and a twelve month high of $8.37. The business has a 50 day simple moving average of $1.11 and a 200-day simple moving average of $2.73.

Institutional Investors Weigh In On Reitar Logtech

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new stake in Reitar Logtech in the 3rd quarter valued at $518,000. Geode Capital Management LLC bought a new position in Reitar Logtech during the second quarter valued at about $131,000. Citadel Advisors LLC acquired a new position in Reitar Logtech in the 3rd quarter valued at approximately $140,000. JPMorgan Chase & Co. bought a new stake in shares of Reitar Logtech in the 3rd quarter worth approximately $108,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Reitar Logtech during the 2nd quarter worth approximately $51,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Reitar Logtech in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Reitar Logtech Company Profile

Reitar Logtech Holdings Limited, through its subsidiaries, provides construction management and engineering design services. It operates in two segments, Asset Management and Professional Consultancy Services; and Construction Management and Engineering Design Services. The company provides construction management and engineering design services for cold storage facilities, automated warehouses, renovated offices, and tailor-made electrical systems. It also offers asset management services for construction projects, including refrigerated storages and warehouses; and professional consultancy services for construction projects, such as renovation works, interior designs and modification works of commercial units, and residential or commercial redevelopment works.