Global Interactive Technologies, Inc. (NASDAQ:GITS) Sees Significant Decrease in Short Interest

Global Interactive Technologies, Inc. (NASDAQ:GITS) saw a significant decline in short interest in May. As of May 15th, there was short interest totaling 8,897 shares, a decline of 43.5% from the April 30th total of 15,756 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 20,571 shares, the short-interest ratio is presently 0.4 days.

Global Interactive Technologies Trading Down 8.3%

Shares of Global Interactive Technologies stock traded down $0.21 during trading on Tuesday, reaching $2.32. The stock had a trading volume of 109,235 shares, compared to its average volume of 1,563,960. The company has a market capitalization of $8.51 million, a price-to-earnings ratio of -1.58 and a beta of -0.68. The stock has a fifty day moving average price of $1.93 and a two-hundred day moving average price of $1.84. Global Interactive Technologies has a 52 week low of $0.66 and a 52 week high of $7.09.

Global Interactive Technologies (NASDAQ:GITS) last issued its quarterly earnings results on Friday, May 22nd. The company reported ($0.88) EPS for the quarter. The firm had revenue of $0.00 million during the quarter.

Institutional Trading of Global Interactive Technologies

A hedge fund recently bought a new stake in Global Interactive Technologies stock. Bank of America Corp DE bought a new stake in Global Interactive Technologies, Inc. (NASDAQ:GITS) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 53,206 shares of the company’s stock, valued at approximately $119,000. Bank of America Corp DE owned about 1.45% of Global Interactive Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). 0.22% of the stock is currently owned by hedge funds and other institutional investors.

About Global Interactive Technologies

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.