Hitek Global (NASDAQ:HKIT) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Hitek Global (NASDAQ:HKIT) to a sell rating in a research note released on Friday morning.

Separately, Weiss Ratings began coverage on shares of Hitek Global in a research report on Thursday, October 30th. They set a “sell (d)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Hitek Global Price Performance

Shares of NASDAQ HKIT opened at $2.02 on Friday. Hitek Global has a 1-year low of $1.15 and a 1-year high of $4.18. The business has a fifty day moving average price of $1.89 and a 200 day moving average price of $1.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 14.21 and a current ratio of 14.27.

Hitek Global (NASDAQ:HKIT) last announced its earnings results on Wednesday, October 22nd. The company reported ($0.02) EPS for the quarter. The business had revenue of $0.37 million for the quarter.

Institutional Trading of Hitek Global

A hedge fund recently bought a new stake in Hitek Global stock. Susquehanna International Group LLP purchased a new stake in shares of Hitek Global Inc. (NASDAQ:HKIT) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned approximately 0.29% of Hitek Global at the end of the most recent quarter. 1.19% of the stock is owned by institutional investors.

About Hitek Global

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.