Health In Tech (NASDAQ:HIT) Shares Down 2.8% – Here’s What Happened

Health In Tech, Inc. (NASDAQ:HIT)’s share price was down 2.8% during trading on Friday . The stock traded as low as $1.05 and last traded at $1.06. Approximately 17,653 shares were traded during mid-day trading, a decline of 93% from the average session volume of 269,393 shares. The stock had previously closed at $1.09.

Analysts Set New Price Targets

Several research firms have recently weighed in on HIT. Wall Street Zen downgraded Health In Tech from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Craig Hallum assumed coverage on shares of Health In Tech in a research note on Monday, April 20th. They issued a “buy” rating and a $4.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Health In Tech in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Health In Tech Stock Down 2.8%

The firm has a 50 day moving average of $1.10 and a 200-day moving average of $1.34. The company has a market cap of $69.46 million, a P/E ratio of -53.00 and a beta of 2.88.

Health In Tech (NASDAQ:HIT) last issued its 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 for the quarter.

Institutional Investors Weigh In On Health In Tech

Several hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new position in Health In Tech during the fourth quarter valued at approximately $214,000. Geode Capital Management LLC lifted its holdings in Health In Tech by 46.6% during the fourth quarter. Geode Capital Management LLC now owns 170,502 shares of the company’s stock worth $271,000 after buying an additional 54,217 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Health In Tech during the first quarter worth $41,000. Squarepoint Ops LLC bought a new stake in Health In Tech during the 3rd quarter valued at $46,000. Finally, Jane Street Group LLC boosted its position in Health In Tech by 307.9% during the 4th quarter. Jane Street Group LLC now owns 50,648 shares of the company’s stock valued at $81,000 after acquiring an additional 38,230 shares in the last quarter.

Health In Tech Company Profile

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.