Lite Strategy, Inc. (NASDAQ:LITS – Get Free Report) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 253,344 shares, an increase of 62.0% from the August 15th total of 156,379 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average trading volume of 186,088 shares, the short-interest ratio is currently 1.4 days.
Institutional Trading of Lite Strategy
A number of institutional investors have recently bought and sold shares of LITS. Renaissance Technologies LLC grew its stake in Lite Strategy by 13.2% in the first quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock valued at $2,024,000 after purchasing an additional 203,278 shares in the last quarter. Mozayyx Management LLC purchased a new stake in shares of Lite Strategy during the 4th quarter worth about $739,000. BlackRock Inc. acquired a new stake in shares of Lite Strategy during the 2nd quarter valued at about $254,000. ADAR1 Capital Management LLC acquired a new stake in shares of Lite Strategy during the 2nd quarter valued at about $62,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Lite Strategy in the 2nd quarter valued at approximately $57,000. Institutional investors and hedge funds own 52.38% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings cut Lite Strategy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.
Lite Strategy Trading Up 2.0%
LITS stock traded up $0.02 during midday trading on Thursday, reaching $1.04. The company had a trading volume of 904,974 shares, compared to its average volume of 341,537. The company has a 50 day moving average of $0.99 and a two-hundred day moving average of $1.04. The company has a market capitalization of $35.39 million, a P/E ratio of -0.65 and a beta of 0.21. Lite Strategy has a 1 year low of $0.69 and a 1 year high of $2.97.
About Lite Strategy
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