Health In Tech, Inc. (NASDAQ:HIT) Short Interest Update

Key Points

• Short interest fell 23.8% in March to 345,566 shares as of March 31, implying a short-interest ratio of 0.3 days and about 0.6% of the company's stock sold short.
• The stock opened at $1.38 (50-day/200-day moving averages $1.44/$1.80), has a market cap of $82.7M and a 52-week range of $0.55–$4.02; the company reported EPS of ($0.01) on $7.51M in revenue, meeting estimates.
• Analyst views are mixed—MarketBeat shows an average rating of Moderate Buy with a $2.50 target while Weiss Ratings reiterated a "sell (d)"—and institutions such as Geode, Renaissance, XTX and Two Sigma have recently built or increased positions.

Health In Tech, Inc. (NASDAQ:HIT - Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totaling 345,566 shares, a decline of 23.8% from the March 15th total of 453,623 shares. Based on an average trading volume of 1,049,300 shares, the short-interest ratio is currently 0.3 days. Approximately 0.6% of the company's stock are sold short.

Health In Tech Stock Performance

NASDAQ:HIT opened at $1.38 on Wednesday. The stock's 50 day moving average price is $1.44 and its 200 day moving average price is $1.80. Health In Tech has a 52 week low of $0.55 and a 52 week high of $4.02. The company has a market capitalization of $82.74 million, a P/E ratio of 69.00 and a beta of 6.19.

Health In Tech (NASDAQ:HIT - Get Free Report) last posted its earnings results on Wednesday, March 25th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.01). The business had revenue of $7.51 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Health In Tech in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Health In Tech has an average rating of "Moderate Buy" and an average target price of $2.50.

Institutional Investors Weigh In On Health In Tech

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Health In Tech by 46.6% during the fourth quarter. Geode Capital Management LLC now owns 170,502 shares of the company's stock valued at $271,000 after buying an additional 54,217 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Health In Tech during the 4th quarter worth about $214,000. XTX Topco Ltd acquired a new position in shares of Health In Tech during the 4th quarter valued at about $203,000. Ancora Advisors LLC acquired a new position in shares of Health In Tech during the 3rd quarter valued at about $389,000. Finally, Two Sigma Investments LP bought a new position in shares of Health In Tech in the 3rd quarter valued at approximately $386,000.

Health In Tech Company Profile

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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