Short Interest in Global Interactive Technologies, Inc. (NASDAQ:GITS) Declines By 43.5%

Global Interactive Technologies, Inc. (NASDAQ:GITS) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 8,897 shares, a drop of 43.5% from the April 30th total of 15,756 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 20,571 shares, the short-interest ratio is presently 0.4 days.

Global Interactive Technologies Trading Down 0.2%

GITS stock traded down $0.01 during trading hours on Thursday, hitting $2.09. 8,478 shares of the stock were exchanged, compared to its average volume of 1,535,019. The firm has a market capitalization of $7.65 million, a P/E ratio of -1.41 and a beta of -0.67. The company has a 50-day simple moving average of $1.91 and a two-hundred day simple moving average of $1.85. Global Interactive Technologies has a 12 month low of $0.66 and a 12 month high of $7.09.

Global Interactive Technologies (NASDAQ:GITS) last issued its earnings results on Friday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter. The business had revenue of $0.00 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Global Interactive Technologies stock. Bank of America Corp DE bought a new position in Global Interactive Technologies, Inc. (NASDAQ:GITS) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 53,206 shares of the company’s stock, valued at approximately $119,000. Bank of America Corp DE owned about 1.45% of Global Interactive Technologies at the end of the most recent reporting period. Institutional investors and hedge funds own 0.22% of the company’s stock.

Global Interactive Technologies Company Profile

Global Interactive Technologies, Inc engages in the provision of a global multi-media platform for users to interact with other like-minded users to share appreciation of various types of entertainment and cultures such as K-POP and modern Korean culture. It operates through the FANTOO platform. The company was founded on October 20, 2021 and is headquartered in Seoul, South Korea.