Reitar Logtech Holdings Limited (NASDAQ:RITR) Sees Large Growth in Short Interest

Reitar Logtech Holdings Limited (NASDAQ:RITR) was the target of a large increase in short interest in June. As of June 15th, there was short interest totaling 844,142 shares, an increase of 437.4% from the May 31st total of 157,087 shares. Based on an average trading volume of 3,134,764 shares, the short-interest ratio is currently 0.3 days. Approximately 1.4% of the company’s stock are sold short.

Reitar Logtech Trading Up 2.6%

Shares of Reitar Logtech stock opened at $0.51 on Friday. The stock has a 50-day simple moving average of $0.51 and a 200-day simple moving average of $0.74. Reitar Logtech has a 52-week low of $0.40 and a 52-week high of $7.68.

Reitar Logtech (NASDAQ:RITR) last released its quarterly earnings data on Tuesday, March 31st. The company reported ($0.04) EPS for the quarter. The company had revenue of $3.56 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC bought a new position in shares of Reitar Logtech during the 2nd quarter valued at $131,000. JPMorgan Chase & Co. acquired a new stake in shares of Reitar Logtech in the 3rd quarter valued at $108,000. BNP Paribas Financial Markets bought a new stake in Reitar Logtech in the third quarter worth $518,000. Finally, Citadel Advisors LLC bought a new stake in Reitar Logtech in the third quarter worth $140,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Reitar Logtech in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Reitar Logtech Company Profile

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. It also offers asset management services for construction projects, including refrigerated storages and warehouses; and professional consultancy services for construction projects, such as renovation works, interior designs and modification works of commercial units, and residential or commercial redevelopment works.