Hitek Global (NASDAQ:HKIT) Stock Set to Reverse Split on Monday, July 6th

Hitek Global Inc. (NASDAQ:HKIT)’s stock is set to reverse split on the morning of Monday, July 6th. The 1-25 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, July 5th.

Hitek Global Price Performance

NASDAQ HKIT opened at $0.22 on Thursday. Hitek Global has a twelve month low of $0.20 and a twelve month high of $627.00. The stock has a 50-day simple moving average of $1.42 and a 200 day simple moving average of $140.07.

Hitek Global (NASDAQ:HKIT) last posted its quarterly earnings data on Friday, April 24th. The company reported $2.28 earnings per share for the quarter. The business had revenue of $2.90 million during the quarter.

Wall Street Analyst Weigh In

HKIT has been the topic of several recent research reports. Wall Street Zen upgraded shares of Hitek Global to a “hold” rating in a research report on Saturday, May 30th. Weiss Ratings restated a “sell (d)” rating on shares of Hitek Global in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Hitek Global presently has an average rating of “Sell”.

Institutional Trading of Hitek Global

A hedge fund recently bought a new position in Hitek Global stock. XTX Topco Ltd bought a new stake in Hitek Global Inc. (NASDAQ:HKIT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,063 shares of the company’s stock, valued at approximately $25,000. Institutional investors own 1.19% of the company’s stock.

About Hitek Global

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.