Lite Strategy (NASDAQ:LITS) Rating Lowered to “Strong Sell” at Wall Street Zen

Lite Strategy (NASDAQ:LITS) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report released on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Lite Strategy currently has a consensus rating of “Sell”.

Lite Strategy Price Performance

Shares of NASDAQ:LITS opened at $1.44 on Friday. The stock has a market cap of $49.00 million, a P/E ratio of -0.90 and a beta of 0.21. The firm has a fifty day moving average price of $1.03 and a 200 day moving average price of $1.04. Lite Strategy has a 1-year low of $0.69 and a 1-year high of $2.97.

Institutional Investors Weigh In On Lite Strategy

Hedge funds have recently modified their holdings of the company. Alpine Global Management LLC purchased a new stake in shares of Lite Strategy in the fourth quarter valued at $66,000. GSA Capital Partners LLP acquired a new position in Lite Strategy in the second quarter valued at $57,000. ADAR1 Capital Management LLC purchased a new position in Lite Strategy during the second quarter worth about $62,000. BlackRock Inc. purchased a new position in Lite Strategy during the second quarter worth about $254,000. Finally, Mozayyx Management LLC acquired a new stake in Lite Strategy in the 4th quarter worth about $739,000. 52.38% of the stock is owned by institutional investors and hedge funds.

Lite Strategy Company Profile