Reitar Logtech Holdings Limited (NASDAQ:RITR) Sees Significant Decline in Short Interest

Reitar Logtech Holdings Limited (NASDAQ:RITR) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 40,303 shares, a decline of 95.2% from the June 15th total of 844,142 shares. Based on an average trading volume of 545,460 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new position in Reitar Logtech during the third quarter valued at $108,000. Citadel Advisors LLC purchased a new stake in Reitar Logtech in the third quarter valued at $140,000. BNP Paribas Financial Markets acquired a new stake in Reitar Logtech during the 3rd quarter worth about $518,000. Finally, Geode Capital Management LLC acquired a new stake in Reitar Logtech during the 2nd quarter worth about $131,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Reitar Logtech in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Reitar Logtech Stock Performance

RITR traded down $0.01 during trading on Friday, reaching $0.27. 362,321 shares of the company’s stock were exchanged, compared to its average volume of 1,149,188. Reitar Logtech has a 1 year low of $0.25 and a 1 year high of $7.68. The company’s fifty day simple moving average is $0.49 and its 200-day simple moving average is $0.69.

Reitar Logtech Company Profile

Reitar Logtech Holdings Limited, through its subsidiaries, provides construction management and engineering design services. It operates in two segments, Asset Management and Professional Consultancy Services; and Construction Management and Engineering Design Services. The company provides construction management and engineering design services for cold storage facilities, automated warehouses, renovated offices, and tailor-made electrical systems. It also offers asset management services for construction projects, including refrigerated storages and warehouses; and professional consultancy services for construction projects, such as renovation works, interior designs and modification works of commercial units, and residential or commercial redevelopment works.