Hitek Global (NASDAQ:HKIT) Rating Increased to Sell at Wall Street Zen

Hitek Global (NASDAQ:HKIT) was upgraded by investment analysts at Wall Street Zen to a “sell” rating in a research note issued on Friday.

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

Hitek Global Stock Performance

NASDAQ:HKIT opened at $2.02 on Friday. 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 business’s 50-day moving average price is $1.89 and its two-hundred day moving average price is $1.80. Hitek Global has a twelve month low of $1.15 and a twelve month high of $4.18.

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

Institutional Inflows and Outflows

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

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. The company was founded in 1996 and is headquartered in Xiamen, China.