Health In Tech (NASDAQ:HIT) Trading Down 5.7% – Should You Sell?

Shares of Health In Tech, Inc. (NASDAQ:HIT) fell 5.7% during trading on Thursday . The stock traded as low as $0.9937 and last traded at $0.9999. 163,956 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 234,423 shares. The stock had previously closed at $1.06.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Health In Tech from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $2.50.

Health In Tech Trading Down 5.7%

The firm has a market cap of $56.90 million, a P/E ratio of 33.33 and a beta of 8.53. The business’s 50-day moving average is $1.39 and its two-hundred day moving average is $2.24.

Health In Tech (NASDAQ:HIT) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $8.49 million for the quarter, compared to the consensus estimate of $7.05 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HIT. Cubist Systematic Strategies LLC bought a new stake in shares of Health In Tech in the first quarter worth $41,000. Raymond James Financial Inc. bought a new position in Health In Tech during the 3rd quarter worth $45,000. Squarepoint Ops LLC bought a new stake in Health In Tech during the third quarter worth about $46,000. Jane Street Group LLC bought a new stake in shares of Health In Tech during the first quarter worth $48,000. Finally, Millennium Management LLC acquired a new stake in shares of Health In Tech during the third quarter valued at about $85,000.

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.