Short Interest in Hitek Global Inc. (NASDAQ:HKIT) Rises By 101.2%

Hitek Global Inc. (NASDAQ:HKIT) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 346,931 shares, a growth of 101.2% from the November 30th total of 172,420 shares. Based on an average trading volume of 928,145 shares, the short-interest ratio is currently 0.4 days. Approximately 2.4% of the company’s shares are short sold. Approximately 2.4% of the company’s shares are short sold. Based on an average trading volume of 928,145 shares, the short-interest ratio is currently 0.4 days.

Hitek Global Stock Down 0.2%

NASDAQ HKIT traded down $0.01 on Monday, reaching $2.19. The stock had a trading volume of 60,984 shares, compared to its average volume of 115,719. The company has a quick ratio of 14.21, a current ratio of 14.27 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $1.95 and a two-hundred day moving average price of $1.70. Hitek Global has a 12-month low of $1.15 and a 12-month high of $4.18.

Hitek Global (NASDAQ:HKIT) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $0.37 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Hitek Global stock. Susquehanna International Group LLP purchased a new position in shares of Hitek Global Inc. (NASDAQ:HKIT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned 0.29% of Hitek Global at the end of the most recent reporting period. Institutional investors own 1.19% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings began coverage on Hitek Global in a research report on Thursday, October 30th. They issued a “sell (d)” rating on the stock. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Hitek Global presently has a consensus 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.