Health In Tech (NASDAQ:HIT) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• Health In Tech (NASDAQ:HIT) was downgraded from a "strong-buy" to a "buy" rating by analysts at Wall Street Zen.
• Maxim Group upgraded Health In Tech to a "strong-buy" rating with a target price of $2.50 per share.
• The company's recent quarterly earnings met expectations with reported earnings per share (EPS) of $0.01 and revenue of $9.31 million, exceeding forecasts.

Health In Tech (NASDAQ:HIT - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday.

Separately, Maxim Group raised shares of Health In Tech to a "strong-buy" rating and set a $2.50 price target on the stock in a research note on Thursday, June 26th.

Health In Tech Price Performance

NASDAQ:HIT traded down $0.40 during trading hours on Friday, hitting $2.88. 727,805 shares of the stock traded hands, compared to its average volume of 1,315,582. The firm has a 50 day moving average price of $1.24 and a 200 day moving average price of $2.13. Health In Tech has a fifty-two week low of $0.51 and a fifty-two week high of $7.59.

Health In Tech (NASDAQ:HIT - Get Free Report) last announced its earnings results on Monday, July 21st. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $9.31 million for the quarter, compared to analyst estimates of $7.96 million.

Hedge Funds Weigh In On Health In Tech

A number of hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in Health In Tech during the first quarter valued at about $59,000. Jane Street Group LLC acquired a new position in Health In Tech in the first quarter worth about $48,000. Arete Wealth Advisors LLC acquired a new stake in shares of Health In Tech during the first quarter worth approximately $47,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Health In Tech during the first quarter worth approximately $41,000.

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.