Health In Tech, Inc. (NASDAQ:HIT) Sees Significant Drop in Short Interest

Health In Tech, Inc. (NASDAQ:HIT) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 132,749 shares, a decline of 68.8% from the November 30th total of 425,649 shares. Based on an average daily trading volume, of 763,353 shares, the short-interest ratio is currently 0.2 days. Currently, 0.2% of the shares of the company are sold short. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 763,353 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On Health In Tech

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Health In Tech during the third quarter worth about $45,000. Squarepoint Ops LLC bought a new stake in Health In Tech during the 3rd quarter worth approximately $46,000. Millennium Management LLC acquired a new position in Health In Tech in the 3rd quarter valued at approximately $85,000. Cubist Systematic Strategies LLC bought a new position in shares of Health In Tech during the first quarter valued at $41,000. Finally, Arete Wealth Advisors LLC bought a new position in shares of Health In Tech during the first quarter valued at $47,000.

Health In Tech Stock Up 0.7%

Shares of NASDAQ HIT traded up $0.01 during trading hours on Friday, hitting $1.53. The company had a trading volume of 170,345 shares, compared to its average volume of 1,002,410. Health In Tech has a 1-year low of $0.51 and a 1-year high of $7.59. The firm’s 50 day moving average is $1.86 and its 200-day moving average is $2.12. The stock has a market capitalization of $87.07 million and a P/E ratio of 51.00.

Health In Tech (NASDAQ:HIT) last announced its earnings results on Wednesday, November 12th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $8.49 million for the quarter, compared to the consensus estimate of $7.05 million.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HIT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Health In Tech in a research report on Wednesday, October 8th. Wall Street Zen downgraded Health In Tech from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Health In Tech currently has a consensus rating of “Moderate Buy” and an average target price of $2.50.

About Health In Tech

Health in Tech, Inc engages in the provision of insurance technology platforms which offer a marketplace of processes in the healthcare industry. Its services include Stone Mountain Risk, eDIYBS, HI Card, HI Performance Network, and Ancillary Products. The company was founded by Tim Johnson in 2014 and is headquartered in Stuart, FL.