Lite Strategy (NASDAQ:LITS) Announces Quarterly Earnings Results

Lite Strategy (NASDAQ:LITS) issued its quarterly earnings results on Thursday. The company reported $0.48 earnings per share for the quarter, FiscalAI reports.

Lite Strategy Stock Down 10.0%

NASDAQ LITS traded down $0.11 during trading on Thursday, reaching $0.97. 526,909 shares of the company traded hands, compared to its average volume of 296,891. The stock’s 50 day moving average price is $1.17 and its two-hundred day moving average price is $1.09. Lite Strategy has a 1-year low of $0.69 and a 1-year high of $2.26.

Hedge Funds Weigh In On Lite Strategy

A number of hedge funds have recently modified their holdings of LITS. GSA Capital Partners LLP bought a new position in shares of Lite Strategy during the 2nd quarter worth approximately $57,000. ADAR1 Capital Management LLC acquired a new stake in Lite Strategy in the 2nd quarter valued at $62,000. Renaissance Technologies LLC boosted its stake in Lite Strategy by 13.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,744,700 shares of the company’s stock valued at $2,024,000 after buying an additional 203,278 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in Lite Strategy in the second quarter valued at $254,000. 52.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Lite Strategy from a “strong sell” rating to a “sell” rating in a report on Sunday, October 4th. Weiss Ratings raised shares of Lite Strategy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, October 26th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Lite Strategy currently has a consensus rating of “Sell”.

Lite Strategy Company Profile