Health In Tech (NASDAQ:HIT) Director Timothy Hayes Sells 12,000 Shares of Stock

Key Points

• Director Timothy Hayes sold 12,000 Health In Tech shares at an average price of $0.91, generating $10,920. After the sale, he retained 120,780 shares, representing a 9.04% reduction in his ownership.
• Health In Tech shares fell $0.03 to $0.91, near the company’s 52-week low of $0.85 and well below its 52-week high of $4.02. The company reported quarterly revenue of $8.06 million and an adjusted loss of $0.04 per share, missing estimates by $0.01.
• Analyst sentiment remains mixed, with ratings ranging from Strong Buy to Sell; the consensus is Moderate Buy with a $3.50 price target, while Maxim Group lowered its target from $4.00 to $3.00.

Health In Tech, Inc. (NASDAQ:HIT - Get Free Report) Director Timothy Hayes sold 12,000 shares of the company's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $0.91, for a total value of $10,920.00. Following the completion of the sale, the director owned 120,780 shares in the company, valued at approximately $109,909.80. This represents a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Timothy Hayes also recently made the following trade(s):

• On Wednesday, September 9th, Timothy Hayes sold 5,730 shares of Health In Tech stock. The stock was sold at an average price of $0.93, for a total value of $5,328.90.

Health In Tech Price Performance

Shares of Health In Tech stock traded down $0.03 during midday trading on Friday, hitting $0.91. 122,541 shares of the company were exchanged, compared to its average volume of 217,514. The firm has a market cap of $59.36 million, a P/E ratio of -12.94 and a beta of 2.72. Health In Tech, Inc. has a 52 week low of $0.85 and a 52 week high of $4.02. The firm has a 50 day simple moving average of $1.04 and a 200-day simple moving average of $1.23.

Health In Tech (NASDAQ:HIT - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The company had revenue of $8.06 million during the quarter.

Institutional Investors Weigh In On Health In Tech

A number of large investors have recently bought and sold shares of HIT. Cubist Systematic Strategies LLC bought a new position in Health In Tech in the 1st quarter valued at $41,000. Raymond James Financial Inc. bought a new position in shares of Health In Tech in the third quarter worth about $45,000. Squarepoint Ops LLC acquired a new position in shares of Health In Tech during the third quarter worth approximately $46,000. Jane Street Group LLC acquired a new position in shares of Health In Tech during the first quarter worth approximately $48,000. Finally, Millennium Management LLC bought a new stake in shares of Health In Tech during the third quarter valued at approximately $85,000.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HIT. Maxim Group reduced their target price on shares of Health In Tech from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Weiss Ratings reiterated a "sell (d)" rating on shares of Health In Tech in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $3.50.

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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