Lite Strategy (NASDAQ:LITS) Announces Earnings Results

Lite Strategy (NASDAQ:LITS) issued its earnings results on Monday. The company reported ($0.38) earnings per share (EPS) for the quarter, FiscalAI reports.

Lite Strategy Trading Down 5.6%

Lite Strategy stock traded down $0.08 during mid-day trading on Monday, hitting $1.36. The stock had a trading volume of 949,954 shares, compared to its average volume of 395,379. The firm has a market capitalization of $46.27 million, a P/E ratio of -0.85 and a beta of 0.21. The firm’s 50 day moving average is $1.03 and its 200 day moving average is $1.04. Lite Strategy has a one year low of $0.69 and a one year high of $2.97.

Hedge Funds Weigh In On Lite Strategy

Large investors have recently made changes to their positions in the business. Alpine Global Management LLC purchased a new stake in Lite Strategy during the 4th quarter valued at approximately $66,000. GSA Capital Partners LLP purchased a new position in Lite Strategy during the second quarter valued at $57,000. ADAR1 Capital Management LLC bought a new stake in Lite Strategy in the 2nd quarter valued at $62,000. BlackRock Inc. purchased a new stake in Lite Strategy in the 2nd quarter worth $254,000. Finally, Mozayyx Management LLC purchased a new stake in Lite Strategy in the 4th quarter worth $739,000. 52.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LITS has been the subject of several research analyst reports. Weiss Ratings upgraded Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Wall Street Zen downgraded Lite Strategy from a “sell” rating to a “strong sell” rating in a research note on Saturday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Lite Strategy has a consensus rating of “Sell”.

Lite Strategy Company Profile