Reitar Logtech Holdings Limited (NASDAQ:RITR) Short Interest Up 90.4% in March

Reitar Logtech Holdings Limited (NASDAQ:RITR) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 630,996 shares, a growth of 90.4% from the February 26th total of 331,427 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily volume of 2,356,684 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Reitar Logtech

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in shares of Reitar Logtech during the third quarter worth about $108,000. Geode Capital Management LLC purchased a new stake in shares of Reitar Logtech in the 2nd quarter valued at about $131,000. Citadel Advisors LLC acquired a new stake in shares of Reitar Logtech in the 3rd quarter valued at about $140,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Reitar Logtech in the 3rd quarter valued at about $518,000.

Reitar Logtech Stock Performance

Shares of NASDAQ:RITR opened at $0.55 on Friday. The firm has a 50 day simple moving average of $0.78 and a 200-day simple moving average of $1.75. Reitar Logtech has a twelve month low of $0.51 and a twelve month high of $8.37.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Reitar Logtech in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Reitar Logtech currently has a consensus rating of “Sell”.

Reitar Logtech Company Profile

Reitar Logtech Holdings Limited, through its subsidiaries, provides construction management and engineering design services. It operates in two segments, Asset Management and Professional Consultancy Services; and Construction Management and Engineering Design Services. The company provides construction management and engineering design services for cold storage facilities, automated warehouses, renovated offices, and tailor-made electrical systems. It also offers asset management services for construction projects, including refrigerated storages and warehouses; and professional consultancy services for construction projects, such as renovation works, interior designs and modification works of commercial units, and residential or commercial redevelopment works.