Global Interactive Technologies, Inc. (NASDAQ:GITS) Short Interest Up 567.7% in June

Global Interactive Technologies, Inc. (NASDAQ:GITS) saw a significant increase in short interest in June. As of June 30th, there was short interest totaling 163,934 shares, an increase of 567.7% from the June 15th total of 24,553 shares. Approximately 4.9% of the shares of the stock are short sold. Based on an average daily volume of 3,716,702 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Investors Weigh In On Global Interactive Technologies

A hedge fund recently bought a new stake in Global Interactive Technologies stock. Bank of America Corp DE acquired a new stake in shares of Global Interactive Technologies, Inc. (NASDAQ:GITS) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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. 0.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Global Interactive Technologies in a report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Global Interactive Technologies presently has an average rating of “Sell”.

Global Interactive Technologies Stock Performance

NASDAQ:GITS traded down $0.04 during mid-day trading on Friday, hitting $2.08. 18,438 shares of the company’s stock traded hands, compared to its average volume of 1,987,651. The company has a market cap of $7.63 million, a PE ratio of -1.48 and a beta of -0.66. The firm’s 50 day simple moving average is $1.82 and its 200 day simple moving average is $1.98. Global Interactive Technologies has a 1 year low of $0.66 and a 1 year high of $7.09.

Global Interactive Technologies (NASDAQ:GITS) last announced its quarterly earnings results on Monday, June 22nd. The company reported ($0.14) earnings per share (EPS) for the quarter. The business had revenue of $0.00 million for the quarter.

About Global Interactive Technologies

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.