Logistics Innovation Technologies Corp (NASDAQ:LITT – Get Rating) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 85,800 shares, an increase of 6,028.6% from the March 15th total of 1,400 shares. Based on an average trading volume of 21,500 shares, the days-to-cover ratio is currently 4.0 days. Currently, 0.3% of the company’s shares are short sold.
Shares of NASDAQ:LITT remained flat at $$9.74 during mid-day trading on Tuesday. 3,314 shares of the company traded hands, compared to its average volume of 11,493. Logistics Innovation Technologies has a fifty-two week low of $9.33 and a fifty-two week high of $9.85. The firm’s 50-day simple moving average is $9.71 and its 200 day simple moving average is $9.72.
Large investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Logistics Innovation Technologies in the 4th quarter valued at approximately $224,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Logistics Innovation Technologies in the 4th quarter valued at approximately $867,000. Segantii Capital Management Ltd purchased a new stake in shares of Logistics Innovation Technologies in the 3rd quarter valued at approximately $980,000. Oaktree Capital Management LP purchased a new stake in Logistics Innovation Technologies in the 3rd quarter worth approximately $1,458,000. Finally, Balyasny Asset Management LLC purchased a new stake in Logistics Innovation Technologies in the 3rd quarter worth approximately $1,702,000. Institutional investors and hedge funds own 58.19% of the company’s stock.
Logistics Innovation Technologies Corp. is a blank check company. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or related business combination with one or more businesses. Logistics Innovation Technologies Corp. is based in Atlanta, GA.
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