Hitek Global Inc. (NASDAQ:HKIT) Short Interest Update

Hitek Global Inc. (NASDAQ:HKIT) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 10,684 shares, a decline of 92.9% from the June 30th total of 150,014 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 206,442 shares, the days-to-cover ratio is presently 0.1 days.

Hitek Global Stock Up 7.6%

Shares of NASDAQ HKIT traded up $0.25 during trading on Friday, hitting $3.56. The company had a trading volume of 65,780 shares, compared to its average volume of 451,746. Hitek Global has a 12 month low of $2.92 and a 12 month high of $15,675.00. The stock has a 50 day simple moving average of $15.74 and a 200 day simple moving average of $2,581.93.

Hitek Global (NASDAQ:HKIT) last announced its quarterly earnings data on Friday, April 24th. The company reported $57.00 earnings per share (EPS) for the quarter. The company had revenue of $2.90 million for the quarter.

Hedge Funds Weigh In On Hitek Global

A hedge fund recently bought a new stake in Hitek Global stock. Susquehanna International Group LLP acquired a new position in Hitek Global Inc. (NASDAQ:HKIT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned approximately 0.29% of Hitek Global at the end of the most recent reporting period. Institutional investors and hedge funds own 1.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on HKIT. Wall Street Zen upgraded shares of Hitek Global to a “hold” rating in a research report on Saturday, May 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Hitek Global in a research report on Tuesday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

About Hitek Global

Hitek Global Inc provides information technology (IT) consulting and solutions to small and medium businesses in various industry sectors in China. It offers anti-counterfeiting tax control system (ACTCS) tax devices, including golden tax disk and printers, ACTCS services, and IT services; and sells software and hardware to large businesses, such as laptops, printers, desktop computers, and related accessories, as well as Internet servers, cameras, and monitors. The company was founded in 1996 and is headquartered in Xiamen, China.