Hitek Global (NASDAQ:HKIT) Releases Quarterly Earnings Results

Hitek Global (NASDAQ:HKIT) released its quarterly earnings data on Friday. The company reported ($0.08) earnings per share for the quarter, FiscalAI reports. The business had revenue of $0.61 million during the quarter.

Hitek Global Price Performance

HKIT traded up $0.07 during midday trading on Friday, hitting $2.60. 12,803,563 shares of the company traded hands, compared to its average volume of 681,002. The company’s 50-day moving average is $2.71 and its 200 day moving average is $21.73. Hitek Global has a 52 week low of $2.16 and a 52 week high of $15,675.00.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Hitek Global in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has an average rating of “Sell”.

About Hitek Global

Hitek Global Inc is a China-based information technology services company that provides IT products and solutions primarily to small and medium-sized businesses. Through its operating subsidiaries, the company helps customers deploy and maintain technology infrastructure and related business systems.

Its offerings include sales of information technology hardware and software, system installation, technical support, maintenance, and customized software or IT solutions. Hitek Global also provides products and services related to tax-control systems, which can help businesses meet applicable tax reporting and invoicing requirements.

The company is headquartered in Suzhou, China, and its business activities are focused primarily on the Chinese market, including Jiangsu Province and surrounding areas.