Hitek Global Inc. (NASDAQ:HKIT) Sees Large Growth in Short Interest

Hitek Global Inc. (NASDAQ:HKIT) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 499,331 shares, an increase of 33.6% from the December 31st total of 373,611 shares. Based on an average daily volume of 141,100 shares, the short-interest ratio is currently 3.5 days. Based on an average daily volume of 141,100 shares, the short-interest ratio is currently 3.5 days.

Hedge Funds Weigh In On Hitek Global

A hedge fund recently bought a new stake in Hitek Global stock. Susquehanna International Group LLP acquired a new stake in Hitek Global Inc. (NASDAQ:HKIT) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned approximately 0.29% of Hitek Global at the end of the most recent reporting period. 1.19% of the stock is owned by institutional investors.

Hitek Global Price Performance

NASDAQ:HKIT traded down $0.04 during mid-day trading on Friday, reaching $1.92. 63,591 shares of the company’s stock were exchanged, compared to its average volume of 102,754. Hitek Global has a one year low of $1.15 and a one year high of $4.18. The company has a debt-to-equity ratio of 0.07, a current ratio of 14.27 and a quick ratio of 14.21. The business’s fifty day simple moving average is $1.91 and its two-hundred day simple moving average is $1.82.

Hitek Global (NASDAQ:HKIT) last announced its earnings results on Wednesday, October 22nd. The company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $0.37 million for the quarter.

Wall Street Analysts Forecast Growth

HKIT has been the subject of several research analyst reports. Wall Street Zen raised shares of Hitek Global to a “sell” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Hitek Global in a research note on Tuesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Hitek Global presently has an average rating of “Sell”.

About Hitek Global

Hitek Global Inc provides information technology (IT) consulting and solutions to small and medium businesses in various industry sectors in China. It offers anti-counterfeiting tax control system (ACTCS) tax devices, including golden tax disk and printers, ACTCS services, and IT services; and sells software and hardware to large businesses, such as laptops, printers, desktop computers, and related accessories, as well as Internet servers, cameras, and monitors. The company was founded in 1996 and is headquartered in Xiamen, China.