Global Interactive Technologies, Inc. (NASDAQ:GITS) Short Interest Update

Global Interactive Technologies, Inc. (NASDAQ:GITS) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 8,464 shares, a decrease of 75.8% from the July 30th total of 34,996 shares. Based on an average daily volume of 194,605 shares, the short-interest ratio is presently 0.0 days. Currently, 0.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Global Interactive Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. One equities 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”.

Global Interactive Technologies Stock Up 9.4%

Shares of Global Interactive Technologies stock traded up $0.17 during midday trading on Friday, hitting $1.97. The company had a trading volume of 45,026 shares, compared to its average volume of 1,255,739. The stock has a market cap of $7.24 million, a price-to-earnings ratio of -1.40 and a beta of -0.61. The company has a fifty day simple moving average of $2.04 and a 200 day simple moving average of $2.08. 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 released its earnings results on Monday, June 22nd. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $0.00 million for the quarter.

Hedge Funds Weigh In On Global Interactive Technologies

A hedge fund recently bought a new position in Global Interactive Technologies stock. Bank of America Corp DE purchased a new position 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 fund purchased 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 filing with the Securities and Exchange Commission. 0.22% of the stock is owned by institutional investors.

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.