Global Interactive Technologies, Inc. (NASDAQ:GITS) Shares Shorted: Short Interest Up 76.8% in October

Global Interactive Technologies, Inc. (NASDAQ:GITS) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 8,882 shares, a growth of 76.8% from the September 30th total of 5,024 shares. Based on an average daily volume of 25,400 shares, the short-interest ratio is currently 0.3 days. Currently, 0.2% of the company’s stock are sold short.

Global Interactive Technologies Stock Down 2.5%

GITS traded down $0.04 during trading on Monday, hitting $1.56. The company had a trading volume of 79,537 shares, compared to its average volume of 23,398. The company has a market capitalization of $6.55 million, a PE ratio of -1.08 and a beta of -0.59. Global Interactive Technologies has a one year low of $0.66 and a one year high of $7.09. The firm’s 50-day moving average price is $1.80 and its 200 day moving average price is $2.06.

Global Interactive Technologies (NASDAQ:GITS) last announced its 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.

Institutional Inflows and Outflows

An institutional investor 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 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 53,206 shares of the company’s stock, valued at approximately $119,000. Bank of America Corp DE owned approximately 1.45% of Global Interactive Technologies as of its most recent SEC filing. 0.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.