Global Interactive Technologies, Inc. (NASDAQ:GITS) Stock Short Interest Climbs 76.8%

Global Interactive Technologies, Inc. (NASDAQ:GITS) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 8,882 shares, a growth of 76.8% from the September 30th total of 5,024 shares. Based on an average daily volume of 25,400 shares, the short-interest ratio is presently 0.3 days. Currently, 0.2% of the company’s stock are sold short.

Global Interactive Technologies Price Performance

GITS stock traded up $0.12 during trading hours on Tuesday, reaching $1.69. The stock had a trading volume of 7,852 shares, compared to its average volume of 988,555. The stock has a market capitalization of $7.08 million, a PE ratio of -1.17 and a beta of -0.59. The stock has a 50-day simple moving average of $1.80 and a 200 day simple moving average of $2.06. Global Interactive Technologies has a fifty-two week low of $0.66 and a fifty-two week high of $7.09.

Global Interactive Technologies (NASDAQ:GITS) last issued its earnings results on Wednesday, September 9th. The company reported ($0.25) earnings per share (EPS) for the quarter. The company had revenue of $0.00 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings raised Global Interactive Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Trading of Global Interactive Technologies

A hedge fund recently bought a new stake in Global Interactive Technologies stock. Bank of America Corp DE acquired a new position 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 Securities & Exchange Commission. 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.

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.