Global Interactive Technologies, Inc. (NASDAQ:GITS) Sees Large Increase in Short Interest

Global Interactive Technologies, Inc. (NASDAQ:GITS) was the target of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 408,746 shares, a growth of 269.9% from the January 15th total of 110,515 shares. Based on an average daily trading volume, of 15,226,834 shares, the short-interest ratio is presently 0.0 days. Approximately 12.3% of the shares of the company are sold short. Approximately 12.3% of the shares of the company are sold short. Based on an average daily trading volume, of 15,226,834 shares, the short-interest ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Global Interactive Technologies in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Global Interactive Technologies Stock Performance

NASDAQ:GITS traded down $0.10 during mid-day trading on Wednesday, reaching $2.67. The stock had a trading volume of 67,291 shares, compared to its average volume of 5,534,009. Global Interactive Technologies has a twelve month low of $0.66 and a twelve month high of $7.09. The business has a 50 day simple moving average of $1.56 and a 200 day simple moving average of $1.87. The firm has a market capitalization of $9.80 million, a price-to-earnings ratio of -4.53 and a beta of -0.86.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Global Interactive Technologies stock. Citadel Advisors LLC acquired a new position in Global Interactive Technologies, Inc. (NASDAQ:GITS) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 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 SEC filing. 0.22% of the stock is currently owned by hedge funds and other institutional investors.

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.