Short Interest in Health In Tech, Inc. (NASDAQ:HIT) Drops By 47.0%

Health In Tech, Inc. (NASDAQ:HIT) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 565,388 shares, a decrease of 47.0% from the June 15th total of 1,066,152 shares. Based on an average daily volume of 122,412 shares, the short-interest ratio is presently 4.6 days. Currently, 0.9% of the company’s stock are sold short.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HIT shares. Weiss Ratings reissued a “sell (d)” rating on shares of Health In Tech in a report on Tuesday, June 30th. Wall Street Zen lowered Health In Tech from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Craig Hallum started coverage on Health In Tech in a research report on Monday, April 20th. They set a “buy” rating and a $4.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.00.

Health In Tech Stock Performance

HIT traded up $0.06 on Friday, hitting $1.13. The company had a trading volume of 137,956 shares, compared to its average volume of 262,169. The stock has a market capitalization of $74.05 million, a price-to-earnings ratio of -56.50 and a beta of 2.88. The stock has a fifty day moving average price of $1.06 and a 200-day moving average price of $1.32. Health In Tech has a 12-month low of $0.85 and a 12-month high of $4.02.

Health In Tech (NASDAQ:HIT) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $8.77 million for the quarter.

Institutional Investors Weigh In On Health In Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of HIT. Cubist Systematic Strategies LLC acquired a new stake in Health In Tech in the first quarter valued at approximately $41,000. Jane Street Group LLC purchased a new position in Health In Tech in the first quarter worth $48,000. Squarepoint Ops LLC acquired a new position in shares of Health In Tech during the third quarter worth $46,000. Two Sigma Investments LP acquired a new position in shares of Health In Tech during the third quarter worth $386,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Health In Tech during the 3rd quarter valued at $45,000.

Health In Tech Company Profile

Health in Tech, Inc engages in the provision of insurance technology platforms which offer a marketplace of processes in the healthcare industry. Its services include Stone Mountain Risk, eDIYBS, HI Card, HI Performance Network, and Ancillary Products. The company was founded by Tim Johnson in 2014 and is headquartered in Stuart, FL.