Short Interest in Global Interactive Technologies, Inc. (NASDAQ:GITS) Increases By 133.6%

Global Interactive Technologies, Inc. (NASDAQ:GITS) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 19,775 shares, a growth of 133.6% from the August 15th total of 8,464 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average trading volume of 185,963 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

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

Global Interactive Technologies Price Performance

Shares of NASDAQ GITS opened at $2.18 on Monday. Global Interactive Technologies has a 1-year low of $0.66 and a 1-year high of $7.09. The company has a market capitalization of $9.16 million, a price-to-earnings ratio of -1.51 and a beta of -0.64. The business has a 50-day moving average of $2.05 and a 200-day moving average of $2.06.

Global Interactive Technologies (NASDAQ:GITS) last released its quarterly earnings results on Wednesday, September 9th. The company reported ($0.25) earnings per share for the quarter. The business had revenue of $0.00 million during the quarter.

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 purchased a new position in shares of Global Interactive Technologies, Inc. (NASDAQ:GITS) during the 1st 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 at the end of the most recent reporting period. 0.22% of the stock is owned by institutional investors and hedge funds.

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.