Lite Strategy (NASDAQ:LITS) Director Acquires 25,000 Shares

Lite Strategy, Inc. (NASDAQ:LITS) Director James Flynn purchased 25,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was acquired at an average price of $0.86 per share, for a total transaction of $21,500.00. Following the completion of the transaction, the director directly owned 125,000 shares of the company’s stock, valued at approximately $107,500. This trade represents a 25.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Lite Strategy Stock Performance

Shares of LITS stock traded down $0.06 during mid-day trading on Thursday, reaching $0.82. 278,166 shares of the company’s stock traded hands, compared to its average volume of 394,928. The firm has a market capitalization of $27.81 million, a PE ratio of -0.51 and a beta of 0.21. Lite Strategy, Inc. has a 12 month low of $0.69 and a 12 month high of $9.00. The firm has a 50 day moving average price of $1.03 and a two-hundred day moving average price of $1.19.

Lite Strategy (NASDAQ:LITS) last announced its earnings results on Wednesday, May 13th. The company reported ($0.66) EPS for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Lite Strategy in the 4th quarter worth $35,000. HRT Financial LP purchased a new position in shares of Lite Strategy in the fourth quarter valued at about $42,000. Alpine Global Management LLC bought a new position in shares of Lite Strategy in the fourth quarter worth about $66,000. ADAR1 Capital Management LLC bought a new position in shares of Lite Strategy in the fourth quarter worth about $89,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Lite Strategy during the fourth quarter worth about $112,000. Institutional investors own 52.38% of the company’s stock.

Wall Street Analysts Forecast Growth

LITS has been the topic of a number of analyst reports. Wall Street Zen raised Lite Strategy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Lite Strategy in a report on Monday, June 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Lite Strategy Company Profile

MEI Pharma, Inc, a late-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor that is in Phase III clinical trial for the treatment of patients with relapsed/refractory follicular lymphoma, as well as in Phase Ib multi-arm trial to treat B-cell malignancies; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies.