Health In Tech (NASDAQ:HIT) Trading Down 1.9% – Here’s What Happened

Shares of Health In Tech, Inc. (NASDAQ:HIT) were down 1.9% during mid-day trading on Thursday . The company traded as low as $1.02 and last traded at $1.06. Approximately 80,243 shares were traded during trading, a decline of 73% from the average daily volume of 297,497 shares. The stock had previously closed at $1.08.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HIT shares. Craig Hallum started coverage on shares of Health In Tech in a research report on Monday, April 20th. They set a “buy” rating and a $4.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Health In Tech in a report on Thursday, April 2nd. Finally, Wall Street Zen downgraded shares of Health In Tech from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $3.25.

Health In Tech Stock Performance

The company has a market cap of $70.12 million, a P/E ratio of -53.50 and a beta of 2.93. The firm’s fifty day moving average is $1.27 and its two-hundred day moving average is $1.37.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new position in Health In Tech in the 4th quarter worth $203,000. State Street Corp boosted its holdings in shares of Health In Tech by 195.3% during the 4th quarter. State Street Corp now owns 62,900 shares of the company’s stock valued at $100,000 after purchasing an additional 41,600 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Health In Tech by 307.9% during the 4th quarter. Jane Street Group LLC now owns 50,648 shares of the company’s stock valued at $81,000 after purchasing an additional 38,230 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Health In Tech during the 4th quarter valued at about $214,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Health In Tech by 46.6% during the 4th quarter. Geode Capital Management LLC now owns 170,502 shares of the company’s stock valued at $271,000 after purchasing an additional 54,217 shares during the last quarter.

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.