Logistics Innovation Technologies Corp. (NASDAQ:LITT – Get Rating) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 4,200 shares, a decrease of 39.1% from the April 15th total of 6,900 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 38,100 shares, the days-to-cover ratio is currently 0.1 days.
Shares of LITT remained flat at $$9.69 on Friday. Logistics Innovation Technologies has a one year low of $9.33 and a one year high of $9.85. The firm has a 50 day moving average price of $9.73 and a 200-day moving average price of $9.71.
Several institutional investors have recently added to or reduced their stakes in the company. Guggenheim Capital LLC acquired a new position in Logistics Innovation Technologies during the 3rd quarter worth $38,560,000. CAPROCK Group Inc. raised its holdings in shares of Logistics Innovation Technologies by 187.0% in the 1st quarter. CAPROCK Group Inc. now owns 2,348,920 shares of the company’s stock worth $22,820,000 after purchasing an additional 1,530,535 shares in the last quarter. 683 Capital Management LLC raised its holdings in shares of Logistics Innovation Technologies by 5.3% in the 4th quarter. 683 Capital Management LLC now owns 1,999,999 shares of the company’s stock worth $19,360,000 after purchasing an additional 100,000 shares in the last quarter. Third Point LLC acquired a new stake in shares of Logistics Innovation Technologies during the fourth quarter valued at approximately $9,680,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Logistics Innovation Technologies during the first quarter valued at approximately $9,517,000. 72.39% of the stock is owned by institutional investors.
Logistics Innovation Technologies Corp. does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in Atlanta, Georgia.
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