Short Interest in Reitar Logtech Holdings Limited (NASDAQ:RITR) Grows By 637.5%

Reitar Logtech Holdings Limited (NASDAQ:RITR) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 297,227 shares, an increase of 637.5% from the June 30th total of 40,303 shares. Based on an average daily trading volume, of 689,663 shares, the short-interest ratio is presently 0.4 days. Approximately 0.5% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Reitar Logtech in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Reitar Logtech currently has a consensus rating of “Sell”.

Reitar Logtech Stock Performance

Shares of RITR traded down $0.02 during mid-day trading on Friday, hitting $0.11. 4,054,547 shares of the company’s stock were exchanged, compared to its average volume of 916,640. The firm has a fifty day moving average of $0.43 and a two-hundred day moving average of $0.61. Reitar Logtech has a twelve month low of $0.09 and a twelve month high of $7.68.

Institutional Trading of Reitar Logtech

A number of hedge funds have recently modified their holdings of RITR. BNP Paribas Financial Markets acquired a new stake in shares of Reitar Logtech during the 3rd quarter valued at about $518,000. Geode Capital Management LLC bought a new position in Reitar Logtech during the second quarter worth about $131,000. Citadel Advisors LLC acquired a new stake in Reitar Logtech during the third quarter valued at approximately $140,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Reitar Logtech in the 3rd quarter valued at approximately $108,000.

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.