Hitek Global Inc. (NASDAQ:HKIT) Short Interest Down 32.6% in March

Hitek Global Inc. (NASDAQ:HKIT) was the recipient of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 179,334 shares, a decline of 32.6% from the February 26th total of 266,045 shares. Based on an average daily trading volume, of 137,765 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Trading of Hitek Global

An institutional investor recently bought a new position in Hitek Global stock. Susquehanna International Group LLP acquired a new stake in shares of Hitek Global Inc. (NASDAQ:HKIT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned 0.29% of Hitek Global at the end of the most recent reporting period. Institutional investors and hedge funds own 1.19% of the company’s stock.

Hitek Global Price Performance

HKIT traded down $0.00 on Friday, hitting $0.06. 813,583,185 shares of the company’s stock were exchanged, compared to its average volume of 9,427,030. The company has a debt-to-equity ratio of 0.07, a current ratio of 14.27 and a quick ratio of 14.21. The stock has a fifty day moving average of $1.52 and a two-hundred day moving average of $1.79. Hitek Global has a twelve month low of $0.03 and a twelve month high of $4.18.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HKIT. Wall Street Zen raised Hitek Global to a “sell” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Hitek Global in a research report on Tuesday, January 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Hitek Global Company Profile

Hitek Global Inc provides information technology (IT) consulting and solutions to small and medium businesses in various industry sectors in China. It offers anti-counterfeiting tax control system (ACTCS) tax devices, including golden tax disk and printers, ACTCS services, and IT services; and sells software and hardware to large businesses, such as laptops, printers, desktop computers, and related accessories, as well as Internet servers, cameras, and monitors. The company was founded in 1996 and is headquartered in Xiamen, China.