Short Interest in Health In Tech, Inc. (NASDAQ:HIT) Grows By 70.9%

Key Points

• Short Interest Spike: Health In Tech, Inc. experienced a significant increase in short interest, rising by 70.9% to 154,000 shares by September 30th.
• Stock Performance: The company's stock traded down by 5.4% to $3.00, with a significant volume of 239,143 shares exchanged compared to its average of 1,114,380.
• Analyst Ratings: The stock's consensus rating is "Moderate Buy," with one analyst upgrading it to "strong-buy" and another giving a "sell" rating, reflecting mixed analyst sentiment.

Health In Tech, Inc. (NASDAQ:HIT - Get Free Report) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 154,000 shares, a growth of 70.9% from the September 15th total of 90,100 shares. Based on an average daily volume of 992,900 shares, the days-to-cover ratio is currently 0.2 days. Approximately 2.1% of the company's stock are short sold. Approximately 2.1% of the company's stock are short sold. Based on an average daily volume of 992,900 shares, the days-to-cover ratio is currently 0.2 days.

Health In Tech Trading Down 5.4%

HIT stock traded down $0.17 during midday trading on Tuesday, reaching $3.00. 239,143 shares of the company were exchanged, compared to its average volume of 1,114,380. Health In Tech has a one year low of $0.51 and a one year high of $7.59. The business has a 50-day moving average price of $3.17 and a two-hundred day moving average price of $1.72.

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of Health In Tech from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Maxim Group upgraded Health In Tech to a "strong-buy" rating and set a $2.50 price target for the company in a research note on Thursday, June 26th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Health In Tech in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Health In Tech currently has a consensus rating of "Moderate Buy" and a consensus target price of $2.50.

Institutional Investors Weigh In On Health In Tech

A number of institutional investors have recently made changes to their positions in HIT. XTX Topco Ltd bought a new position in shares of Health In Tech during the first quarter worth approximately $59,000. Cubist Systematic Strategies LLC acquired a new position in Health In Tech in the 1st quarter valued at $41,000. Arete Wealth Advisors LLC bought a new stake in shares of Health In Tech during the 1st quarter valued at $47,000. Finally, Jane Street Group LLC acquired a new stake in shares of Health In Tech during the 1st quarter worth $48,000.

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.

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