Health In Tech, Inc. (NASDAQ:HIT) Short Interest Down 56.3% in September

Key Points

• Short interest in Health In Tech, Inc. saw a significant drop of 56.3% in September, decreasing from 206,400 shares to 90,100 shares as of September 15th.
• Institutional investors have recently purchased stakes in Health In Tech, including Jane Street Group and Arete Wealth Advisors, indicating increasing interest from hedge funds.
• The company's average analyst rating is currently "Moderate Buy," with a target price set at $2.50, while its stock has experienced a 4.0% drop, trading at $3.37.

Health In Tech, Inc. (NASDAQ:HIT - Get Free Report) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 90,100 shares, a decline of 56.3% from the August 31st total of 206,400 shares. Based on an average trading volume of 1,000,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.2% of the company's shares are short sold. Currently, 1.2% of the company's shares are short sold. Based on an average trading volume of 1,000,000 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Health In Tech

Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC bought a new stake in shares of Health In Tech in the first quarter valued at $48,000. Arete Wealth Advisors LLC bought a new stake in shares of Health In Tech in the first quarter valued at $47,000. Cubist Systematic Strategies LLC bought a new stake in shares of Health In Tech in the first quarter valued at $41,000. Finally, XTX Topco Ltd bought a new stake in shares of Health In Tech in the first quarter valued at $59,000.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HIT shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Health In Tech in a report on Saturday, September 27th. Wall Street Zen cut Health In Tech from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Maxim Group raised Health In Tech to a "strong-buy" rating and set a $2.50 target price for the company in a research note on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Health In Tech currently has an average rating of "Moderate Buy" and a consensus price target of $2.50.

Health In Tech Stock Down 4.0%

Shares of HIT stock traded down $0.14 during trading hours on Friday, reaching $3.37. The company had a trading volume of 286,004 shares, compared to its average volume of 1,158,188. The business has a fifty day simple moving average of $2.86 and a 200-day simple moving average of $1.48. Health In Tech has a 12 month low of $0.51 and a 12 month high of $7.59.

Health In Tech (NASDAQ:HIT - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. The business had revenue of $9.31 million for the quarter, compared to the consensus estimate of $7.96 million.

About Health In Tech

Health in Tech, Inc engages in the provision of insurance technology platforms which offer a marketplace of processes in the healthcare industry. Its services include Stone Mountain Risk, eDIYBS, HI Card, HI Performance Network, and Ancillary Products. The company was founded by Tim Johnson in 2014 and is headquartered in Stuart, FL.

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