Short Interest in Global Interactive Technologies, Inc. (NASDAQ:GITS) Expands By 133.6%

Global Interactive Technologies, Inc. (NASDAQ:GITS) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 19,775 shares, an increase of 133.6% from the August 15th total of 8,464 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily volume of 185,963 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Global Interactive Technologies

A hedge fund recently bought a new stake in Global Interactive Technologies stock. Bank of America Corp DE acquired a new position in shares of Global Interactive Technologies, Inc. (NASDAQ:GITS) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 53,206 shares of the company’s stock, valued at approximately $119,000. Bank of America Corp DE owned about 1.45% of Global Interactive Technologies as of its most recent SEC filing. 0.22% of the stock is owned by institutional investors.

Global Interactive Technologies Price Performance

GITS opened at $2.18 on Monday. Global Interactive Technologies has a 12 month low of $0.66 and a 12 month high of $7.09. The business has a 50-day moving average of $2.05 and a two-hundred day moving average of $2.06. The stock has a market capitalization of $9.16 million, a price-to-earnings ratio of -1.51 and a beta of -0.64.

Global Interactive Technologies (NASDAQ:GITS) last announced its quarterly earnings data on Wednesday, September 9th. The company reported ($0.25) earnings per share for the quarter. The firm had revenue of $0.00 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Global Interactive Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Global Interactive Technologies Company Profile

Global Interactive Technologies, Inc engages in the provision of a global multi-media platform for users to interact with other like-minded users to share appreciation of various types of entertainment and cultures such as K-POP and modern Korean culture. It operates through the FANTOO platform. The company was founded on October 20, 2021 and is headquartered in Seoul, South Korea.