Health In Tech (NASDAQ:HIT) Downgraded by Wall Street Zen to Buy

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 equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday.

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

Health In Tech Stock Up 7.4%

Shares of NASDAQ HIT traded up $0.17 during mid-day trading on Friday, hitting $2.48. The company's stock had a trading volume of 674,038 shares, compared to its average volume of 1,312,757. The company's fifty day simple moving average is $1.14 and its 200-day simple moving average is $2.14. Health In Tech has a one year low of $0.51 and a one year high of $7.59.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new position in Health In Tech during the first quarter worth about $41,000. Arete Wealth Advisors LLC acquired a new position in Health In Tech during the first quarter worth about $47,000. Jane Street Group LLC acquired a new position in Health In Tech during the first quarter worth about $48,000. Finally, XTX Topco Ltd acquired a new position in Health In Tech during the first quarter worth about $59,000.

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.