Global Interactive Technologies, Inc. (NASDAQ:GITS) Stock Short Interest Falls 68.4%

Global Interactive Technologies, Inc. (NASDAQ:GITS) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 5,024 shares, a decline of 68.4% from the September 15th total of 15,899 shares. Based on an average daily volume of 25,103 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Global Interactive Technologies Stock Performance

NASDAQ:GITS remained flat at $1.51 on Monday. The company’s stock had a trading volume of 24,870 shares, compared to its average volume of 1,067,181. The business has a fifty day moving average of $2.00 and a two-hundred day moving average of $1.98. The stock has a market capitalization of $6.34 million, a PE ratio of -1.05 and a beta of -0.59. 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 announced its quarterly earnings results on Wednesday, September 9th. The company reported ($0.25) earnings per share for the quarter. The company had revenue of $0.00 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Global Interactive Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Trading of Global Interactive Technologies

A hedge fund recently bought a new stake in Global Interactive Technologies stock. Bank of America Corp DE acquired a new position in Global Interactive Technologies, Inc. (NASDAQ:GITS) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 53,206 shares of the company’s stock, valued at approximately $119,000. Bank of America Corp DE owned 1.45% of Global Interactive Technologies as of its most recent SEC filing. Institutional investors 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.