Hitek Global Inc. (NASDAQ:HKIT) Sees Significant Increase in Short Interest

Hitek Global Inc. (NASDAQ:HKIT) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 130,400 shares, an increase of 178.6% from the March 31st total of 46,800 shares. Approximately 2.3% of the company’s stock are sold short. Based on an average daily volume of 2,100,000 shares, the short-interest ratio is presently 0.1 days.

Hitek Global Stock Performance

HKIT opened at $1.42 on Friday. The company’s 50-day simple moving average is $1.70 and its two-hundred day simple moving average is $1.39. Hitek Global has a 52-week low of $0.54 and a 52-week high of $39.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 7.28 and a current ratio of 7.35.

Institutional Investors Weigh In On Hitek Global

A hedge fund recently bought a new stake in Hitek Global stock. B. Riley Wealth Advisors Inc. purchased a new position in Hitek Global Inc. (NASDAQ:HKIT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 14,000 shares of the company’s stock, valued at approximately $32,000. B. Riley Wealth Advisors Inc. owned about 0.10% of Hitek Global at the end of the most recent reporting period. 1.19% of the stock is owned by hedge funds and other institutional investors.

Hitek Global Company Profile

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.