Fitell Corporation (NASDAQ:FTEL) Short Interest Up 40.0% in December

Fitell Corporation (NASDAQ:FTEL) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totaling 202,481 shares, an increase of 40.0% from the December 15th total of 144,592 shares. Based on an average daily trading volume, of 3,462,569 shares, the days-to-cover ratio is currently 0.1 days. Currently, 14.4% of the shares of the stock are short sold. Currently, 14.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,462,569 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Fitell

A hedge fund recently raised its stake in Fitell stock. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Fitell Corporation (NASDAQ:FTEL) by 114.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,500 shares of the company’s stock after purchasing an additional 35,966 shares during the period. Vanguard Personalized Indexing Management LLC owned approximately 0.32% of Fitell worth $34,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

FTEL has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Fitell in a research report on Wednesday, October 8th. Wall Street Zen raised Fitell from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Fitell Trading Down 1.5%

FTEL traded down $0.05 during trading on Friday, hitting $3.22. The company’s stock had a trading volume of 111,588 shares, compared to its average volume of 331,503. Fitell has a twelve month low of $2.91 and a twelve month high of $1,427.20. The firm’s 50 day moving average price is $5.63 and its 200-day moving average price is $39.90.

Fitell (NASDAQ:FTEL) last announced its quarterly earnings data on Friday, November 14th. The company reported $335,544.32 EPS for the quarter. The business had revenue of $1.28 million during the quarter.

Fitell announced that its board has initiated a stock buyback program on Monday, December 1st that authorizes the company to repurchase $3.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 265.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Fitell Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, January 13th. Stockholders of record on Tuesday, December 30th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a dividend yield of 2,931.0%.

Fitell Company Profile

Fitell Corporation, together with its subsidiaries, operates as an online retailer of gym and fitness equipment for personal training studios and commercial gyms chains in Australia and Southeast Asia. The company sells fitness equipment, including home gym and commercial strength-training equipment; and cardio equipment, such as rowing machines, exercise bikes, treadmills, and other related products under the Muscle Motion, Rapid Motion, and FleetX brand names. It is also involved in the boutique fitness clubs licensing business.