Health In Tech (NASDAQ:HIT) Stock Price Down 1.9% – Should You Sell?

Shares of Health In Tech, Inc. (NASDAQ:HIT) traded down 1.9% during trading on Thursday . The company traded as low as $1.02 and last traded at $1.06. 80,243 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 297,497 shares. The stock had previously closed at $1.08.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Health In Tech in a research report on Thursday, April 2nd. Craig Hallum assumed coverage on Health In Tech in a research report on Monday, April 20th. They issued a “buy” rating and a $4.00 price objective for the company. Finally, Wall Street Zen lowered Health In Tech from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $3.25.

Health In Tech Trading Down 1.9%

The company has a market capitalization of $69.46 million, a P/E ratio of -53.00 and a beta of 2.93. The business has a 50 day moving average price of $1.28 and a 200 day moving average price of $1.38.

Health In Tech (NASDAQ:HIT) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $8.77 million during the quarter.

Institutional Trading of Health In Tech

Hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Health In Tech in the 1st quarter valued at approximately $41,000. Raymond James Financial Inc. acquired a new stake in shares of Health In Tech in the 3rd quarter valued at approximately $45,000. Squarepoint Ops LLC acquired a new stake in shares of Health In Tech in the 3rd quarter valued at approximately $46,000. Jane Street Group LLC acquired a new stake in shares of Health In Tech in the 1st quarter valued at approximately $48,000. Finally, Millennium Management LLC acquired a new stake in shares of Health In Tech in the 3rd quarter valued at approximately $85,000.

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.