Health In Tech (NASDAQ:HIT) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Health In Tech from "hold" to "sell," though analyst opinions are mixed — Weiss Ratings also has a sell, Craig Hallum started coverage with a buy and $4 target, and MarketBeat's consensus remains a Moderate Buy with an average price target of $3.25.
• Shares opened at $1.51 with a market cap of about $90.5M, a 52‑week range of $0.55–$4.02 and high volatility (beta 6.19); the company reported quarterly EPS of ($0.01) on $7.51M in revenue.
• Several institutional investors (including Millennium, Jane Street, Squarepoint, Raymond James and Cubist) established small new positions recently, indicating modest institutional interest.

Health In Tech (NASDAQ:HIT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also issued reports on the company. Weiss Ratings reissued a "sell (d)" rating on shares of Health In Tech in a report on Thursday, April 2nd. Craig Hallum started coverage on Health In Tech in a report on Monday. They issued a "buy" rating and a $4.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Health In Tech currently has a consensus rating of "Moderate Buy" and an average price target of $3.25.

Health In Tech Price Performance

HIT opened at $1.51 on Friday. The firm has a market cap of $90.54 million, a price-to-earnings ratio of 75.50 and a beta of 6.19. Health In Tech has a 52 week low of $0.55 and a 52 week high of $4.02. The business's 50 day moving average is $1.52 and its two-hundred day moving average is $1.72.

Health In Tech (NASDAQ:HIT - Get Free Report) last released its quarterly earnings results on Wednesday, March 25th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $7.51 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HIT. Cubist Systematic Strategies LLC acquired a new position in shares of Health In Tech in the first quarter valued at approximately $41,000. Raymond James Financial Inc. purchased a new stake in shares of Health In Tech in the third quarter valued at approximately $45,000. Squarepoint Ops LLC purchased a new stake in shares of Health In Tech in the third quarter valued at approximately $46,000. Jane Street Group LLC purchased a new stake in shares of Health In Tech in the first quarter valued at approximately $48,000. Finally, Millennium Management LLC purchased a new stake in shares of Health In Tech in the third quarter valued at approximately $85,000.

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.

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