Global Interactive Technologies, Inc. (NASDAQ:GITS) Short Interest Update

Global Interactive Technologies, Inc. (NASDAQ:GITS) saw a significant decrease in short interest in July. As of July 31st, there was short interest totaling 34,996 shares, a decrease of 54.2% from the July 15th total of 76,378 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 33,100 shares, the days-to-cover ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Global Interactive Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Global Interactive Technologies currently has an average rating of “Sell”.

Global Interactive Technologies Stock Performance

GITS remained flat at $1.93 during trading on Friday. The company had a trading volume of 45,283 shares, compared to its average volume of 116,252. The business’s 50 day moving average is $2.06 and its 200 day moving average is $2.20. The company has a market capitalization of $7.08 million, a PE ratio of -1.37 and a beta of -0.61. Global Interactive Technologies has a 12 month low of $0.66 and a 12 month high of $7.09.

Global Interactive Technologies (NASDAQ:GITS) last announced its earnings results on Monday, June 22nd. The company reported ($0.14) earnings per share for the quarter. The firm had revenue of $0.00 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Global Interactive Technologies stock. Bank of America Corp DE acquired a new stake in shares of Global Interactive Technologies, Inc. (NASDAQ:GITS) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 53,206 shares of the company’s stock, valued at approximately $119,000. Bank of America Corp DE owned 1.45% of Global Interactive Technologies as of its most recent SEC filing. 0.22% of the stock is currently owned by 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.