Lite Strategy (NASDAQ:LITS) Releases Earnings Results

Lite Strategy (NASDAQ:LITS) released its quarterly earnings results on Monday. The company reported ($0.38) earnings per share for the quarter, FiscalAI reports.

Lite Strategy Trading Up 1.1%

NASDAQ:LITS opened at $1.38 on Wednesday. The stock has a market capitalization of $46.79 million, a P/E ratio of -0.69 and a beta of 0.21. The stock has a 50-day moving average price of $1.04 and a 200 day moving average price of $1.05. Lite Strategy has a 12-month low of $0.69 and a 12-month high of $2.97.

Hedge Funds Weigh In On Lite Strategy

Hedge funds have recently bought and sold shares of the business. ADAR1 Capital Management LLC bought a new position in shares of Lite Strategy in the 2nd quarter worth $62,000. BlackRock Inc. purchased a new position in Lite Strategy in the 2nd quarter worth $254,000. GSA Capital Partners LLP acquired a new position in Lite Strategy in the 2nd quarter worth approximately $57,000. Renaissance Technologies LLC raised its stake in shares of Lite Strategy by 13.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock valued at $2,024,000 after buying an additional 203,278 shares during the last quarter. Finally, Alpine Global Management LLC purchased a new stake in Lite Strategy in the 4th quarter worth approximately $66,000. Institutional investors own 52.38% of the company’s stock.

Wall Street Analysts Forecast Growth

LITS has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th. Wall Street Zen downgraded shares of Lite Strategy from a “sell” rating to a “strong sell” rating in a research note on Saturday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Lite Strategy Company Profile