Reitar Logtech Holdings Limited (NASDAQ:RITR) Short Interest Update

Key Points

• Reitar Logtech Holdings Limited (NASDAQ: RITR) experienced a significant increase in short interest, rising 113.7% in September to a total of 340,900 shares.
• Analysts have downgraded RITR's rating, with Weiss Ratings reiterating a "sell" rating and Wall Street Zen lowering their recommendation from "hold" to "sell".
• As of the latest trading session, RITR's share price opened at $1.65, significantly below its one-year high of $8.75.

Reitar Logtech Holdings Limited (NASDAQ:RITR - Get Free Report) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 340,900 shares, a growth of 113.7% from the September 15th total of 159,500 shares. Based on an average daily trading volume, of 870,500 shares, the short-interest ratio is presently 0.4 days. Currently, 2.3% of the shares of the company are sold short. Currently, 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 870,500 shares, the short-interest ratio is presently 0.4 days.

Analysts Set New Price Targets

RITR has been the subject of a number of recent research reports. Weiss Ratings reiterated a "sell (d)" rating on shares of Reitar Logtech in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Reitar Logtech from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of "Sell".

Reitar Logtech Price Performance

Shares of NASDAQ:RITR opened at $1.65 on Monday. The firm has a fifty day moving average price of $4.32 and a two-hundred day moving average price of $4.24. Reitar Logtech has a one year low of $1.48 and a one year high of $8.75.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of Reitar Logtech during the 2nd quarter worth $51,000. XTX Topco Ltd lifted its holdings in shares of Reitar Logtech by 134.3% during the 1st quarter. XTX Topco Ltd now owns 23,938 shares of the company's stock worth $67,000 after acquiring an additional 13,721 shares during the last quarter. Finally, Geode Capital Management LLC bought a new stake in shares of Reitar Logtech during the 2nd quarter worth $131,000.

About Reitar Logtech

Reitar Logtech Holdings Limited, through its subsidiaries, provides construction management and engineering design services. It operates in two segments, Asset Management and Professional Consultancy Services; and Construction Management and Engineering Design Services. The company provides construction management and engineering design services for cold storage facilities, automated warehouses, renovated offices, and tailor-made electrical systems.

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