Fitell Corporation (NASDAQ:FTEL) Short Interest Update

Fitell Corporation (NASDAQ:FTEL) was the target of a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 53,778 shares, an increase of 103.7% from the January 15th total of 26,401 shares. Based on an average daily volume of 397,152 shares, the short-interest ratio is presently 0.1 days. Currently, 3.8% of the company’s stock are short sold. Currently, 3.8% of the company’s stock are short sold. Based on an average daily volume of 397,152 shares, the short-interest ratio is presently 0.1 days.

Analyst Ratings Changes

FTEL has been the topic of a number of research analyst reports. Wall Street Zen raised Fitell from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Fitell in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Fitell Trading Up 2.6%

Fitell stock opened at $1.99 on Friday. Fitell has a one year low of $1.73 and a one year high of $181.76. The stock has a fifty day moving average of $3.87 and a 200 day moving average of $27.71.

Fitell (NASDAQ:FTEL) last announced its earnings results on Friday, November 14th. The company reported $335,544.32 earnings per share (EPS) for the quarter. The firm had revenue of $1.28 million during the quarter.

Fitell Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, January 13th. Investors of record on Tuesday, December 30th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a dividend yield of 2,931.0%.

Fitell announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 1st that allows the company to buyback $3.00 million in shares. This buyback authorization allows the company to purchase up to 265.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Fitell stock. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Fitell Corporation (NASDAQ:FTEL) by 114.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,500 shares of the company’s stock after acquiring an additional 35,966 shares during the quarter. Vanguard Personalized Indexing Management LLC owned approximately 0.32% of Fitell worth $34,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 0.10% of the company’s stock.

Fitell Company Profile

Fitell Corporation, together with its subsidiaries, operates as an online retailer of gym and fitness equipment for personal training studios and commercial gyms chains in Australia and Southeast Asia. The company sells fitness equipment, including home gym and commercial strength-training equipment; and cardio equipment, such as rowing machines, exercise bikes, treadmills, and other related products under the Muscle Motion, Rapid Motion, and FleetX brand names. It is also involved in the boutique fitness clubs licensing business.