Hitek Global (NASDAQ:HKIT) Stock Price Down 4.2% – Should You Sell?

Hitek Global Inc. (NASDAQ:HKIT) dropped 4.2% during trading on Tuesday . The company traded as low as $1.43 and last traded at $1.49. Approximately 20,413 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 49,205 shares. The stock had previously closed at $1.55.

Hitek Global Price Performance

The stock has a 50-day simple moving average of $1.26 and a two-hundred day simple moving average of $1.30.

Institutional Trading of Hitek Global

A hedge fund recently bought a new stake in Hitek Global stock. Citadel Advisors LLC bought a new position in Hitek Global Inc. (NASDAQ:HKIT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,884 shares of the company’s stock, valued at approximately $31,000. Citadel Advisors LLC owned about 0.15% of Hitek Global at the end of the most recent quarter. 1.19% of the stock is currently owned by institutional investors.

Hitek Global Company Profile

Hitek Global Inc provides information technology (IT) consulting and solutions to small and medium businesses in various industry sectors in China. It offers anti-counterfeiting tax control system (ACTCS) tax devices, including golden tax disk and printers, ACTCS services, and IT services; and sells software and hardware to large businesses, such as laptops, printers, desktop computers, and related accessories, as well as Internet servers, cameras, and monitors.