Health In Tech (NASDAQ:HIT) Trading Up 4.4% - Time to Buy?

Key Points

• Health In Tech (NASDAQ:HIT) saw its stock price increase by 4.4%, reaching a last traded price of $2.83 with a notable decline in trading volume.
• Analysts hold a consensus rating of "Strong Buy" for HIT shares, with a price target of $2.50, although some firms have lowered their ratings from "strong-buy" to "buy."
• The company recently reported quarterly earnings of $0.01 EPS, meeting expectations, alongside a revenue of $9.31 million, which surpassed analyst estimates of $7.96 million.

Health In Tech, Inc. (NASDAQ:HIT - Get Free Report)'s stock price was up 4.4% during mid-day trading on Tuesday . The stock traded as high as $2.89 and last traded at $2.83. Approximately 403,810 shares changed hands during trading, a decline of 67% from the average daily volume of 1,241,088 shares. The stock had previously closed at $2.71.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HIT. Wall Street Zen cut Health In Tech from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Maxim Group raised 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. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Health In Tech has a consensus rating of "Strong Buy" and an average target price of $2.50.

Health In Tech Stock Down 1.5%

The company has a fifty day moving average of $2.29 and a two-hundred day moving average of $1.61.

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

Hedge Funds Weigh In On Health In Tech

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new stake in Health In Tech in the first quarter worth approximately $41,000. Arete Wealth Advisors LLC acquired a new stake in Health In Tech during the 1st quarter valued at $47,000. Jane Street Group LLC acquired a new position in shares of Health In Tech in the first quarter worth $48,000. Finally, XTX Topco Ltd acquired a new position in shares of Health In Tech in the first quarter worth $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.