Hitek Global (NASDAQ:HKIT) Upgraded at Wall Street Zen

Hitek Global (NASDAQ:HKIT) was upgraded by equities research analysts at Wall Street Zen to a “sell” rating in a research report issued on Friday.

Separately, Weiss Ratings began coverage on Hitek Global in a research report on Thursday, October 30th. They issued a “sell (d)” rating for the company. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Hitek Global Price Performance

Shares of NASDAQ:HKIT opened at $2.02 on Friday. The stock’s 50-day moving average price is $1.89 and its 200-day moving average price is $1.80. The company has a quick ratio of 14.21, a current ratio of 14.27 and a debt-to-equity ratio of 0.07. Hitek Global has a 12-month low of $1.15 and a 12-month high of $4.18.

Hitek Global (NASDAQ:HKIT) last released its earnings results on Wednesday, October 22nd. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $0.37 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Hitek Global stock. Susquehanna International Group LLP acquired a new position in Hitek Global Inc. (NASDAQ:HKIT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 41,425 shares of the company’s stock, valued at approximately $73,000. Susquehanna International Group LLP owned 0.29% of Hitek Global as of its most recent filing with the Securities and Exchange Commission. 1.19% of the stock is owned by institutional investors and hedge funds.

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. The company was founded in 1996 and is headquartered in Xiamen, China.