Health In Tech (NASDAQ:HIT) Stock Price Down 2.8% – Here’s What Happened

Health In Tech, Inc. (NASDAQ:HIT) was down 2.8% on Friday . The company traded as low as $1.05 and last traded at $1.06. Approximately 17,653 shares traded hands during trading, a decline of 93% from the average daily volume of 269,393 shares. The stock had previously closed at $1.09.

Wall Street Analyst Weigh In

A number of brokerages have commented on HIT. Craig Hallum began coverage on shares of Health In Tech in a report on Monday, April 20th. They issued a “buy” rating and a $4.00 target price for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Health In Tech in a research report on Tuesday, June 30th. Finally, Wall Street Zen lowered shares of Health In Tech from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.00.

Health In Tech Stock Performance

The company has a 50 day moving average of $1.10 and a two-hundred day moving average of $1.34. The stock has a market capitalization of $69.46 million, a PE ratio of -53.00 and a beta of 2.88.

Health In Tech (NASDAQ:HIT) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $8.77 million during the quarter.

Institutional Trading of Health In Tech

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in Health In Tech during the 4th quarter worth approximately $214,000. XTX Topco Ltd acquired a new stake in shares of Health In Tech during the fourth quarter worth $203,000. Ancora Advisors LLC acquired a new stake in shares of Health In Tech during the third quarter worth $389,000. Two Sigma Investments LP acquired a new stake in shares of Health In Tech during the third quarter worth $386,000. Finally, Jane Street Group LLC purchased a new stake in shares of Health In Tech during the first quarter valued at $48,000.

About Health In Tech

Health in Tech, Inc engages in the provision of insurance technology platforms which offer a marketplace of processes in the healthcare industry. Its services include Stone Mountain Risk, eDIYBS, HI Card, HI Performance Network, and Ancillary Products. The company was founded by Tim Johnson in 2014 and is headquartered in Stuart, FL.