Traders Purchase High Volume of Call Options on Lite Strategy (NASDAQ:LITS)

Lite Strategy, Inc. (NASDAQ:LITS) saw unusually large options trading activity on Thursday. Investors acquired 4,098 call options on the stock. This is an increase of approximately 1,513% compared to the average daily volume of 254 call options.

Lite Strategy Stock Up 2.7%

NASDAQ LITS traded up $0.04 during trading on Thursday, hitting $1.35. The stock had a trading volume of 617,046 shares, compared to its average volume of 398,032. The company has a market capitalization of $41.20 million, a PE ratio of -0.68 and a beta of 0.21. The firm has a 50 day moving average price of $1.05 and a 200 day moving average price of $1.05. Lite Strategy has a twelve month low of $0.69 and a twelve month high of $2.97.

Lite Strategy (NASDAQ:LITS) last issued its quarterly earnings results on Monday, September 28th. The company reported ($0.38) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Lite Strategy

Institutional investors have recently modified their holdings of the business. Alpine Global Management LLC purchased a new stake in shares of Lite Strategy during the fourth quarter worth $66,000. GSA Capital Partners LLP acquired a new position in Lite Strategy during the 2nd quarter worth $57,000. ADAR1 Capital Management LLC acquired a new position in Lite Strategy during the 2nd quarter worth $62,000. Renaissance Technologies LLC increased its holdings in Lite Strategy by 13.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock worth $2,024,000 after purchasing an additional 203,278 shares during the period. Finally, BlackRock Inc. acquired a new stake in Lite Strategy in the 2nd quarter valued at about $254,000. Institutional investors and hedge funds own 52.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Lite Strategy from a “sell” rating to a “strong sell” rating in a report on Saturday, September 26th. Weiss Ratings raised Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Lite Strategy has an average rating of “Sell”.

About Lite Strategy