Fitell Corporation (NASDAQ:FTEL) Short Interest Down 34.0% in February

Fitell Corporation (NASDAQ:FTEL) was the recipient of a large decrease in short interest in February. As of February 27th, there was short interest totaling 12,350 shares, a decrease of 34.0% from the February 12th total of 18,706 shares. Based on an average daily volume of 25,511 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.9% of the shares of the stock are sold short. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 25,511 shares, the days-to-cover ratio is presently 0.5 days.

Fitell Stock Up 0.5%

Shares of FTEL traded up $0.01 during trading hours on Friday, hitting $1.92. The company had a trading volume of 1,061,616 shares, compared to its average volume of 84,072. Fitell has a 52-week low of $1.33 and a 52-week high of $153.60. The stock’s 50 day moving average price is $2.39 and its 200 day moving average price is $19.00.

Fitell declared that its Board of Directors has initiated a stock repurchase program on Monday, December 1st that permits the company to repurchase $3.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 265.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FTEL shares. Wall Street Zen raised Fitell from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fitell in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

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.