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Here’s Why Hitek Global Inc (NASDAQ: HKIT) Is An Attractive Pick For Investors Now

Hitek Global Inc (NASDAQ:HKIT) price closed lower on Monday, February 12, dropping -22.96% below its previous close.

A look at the daily price movement shows that the last close reads $2.70. Taking into account the 52-week price action we note that the stock hit a 52-week high of $39.80 and 52-week low of $0.54. The stock added 197.10% on its value in the past month.

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Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give HKIT a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 50% Sell.

The overview shows that HKIT’s price is at present 126.04% off the SMA20 and 105.05% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 61.21, with weekly volatility standing at 56.30%. The indicator jumps to 18.62% when calculated based on the past 30 days. Hitek Global Inc (NASDAQ:HKIT)’s beta value is holding at 0, while the average true range (ATR) indicator is currently reading 0.56.

An analysis of the Hitek Global Inc (NASDAQ:HKIT) stock in terms of its daily trading volume indicates that the 3-month average is 1.97. However, this figure increases on the past 10-day timeline to an average of 9.33 million.

Current records show that the company has 14.99M in outstanding shares. The percentage share held by institutions stands at 0.82%. The stats also highlight that short interest as of Jan 31, 2024, stood at 7120.0 shares, which puts the short ratio at the time at 0.08. From this we can glean that short interest is 0.05% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 847.0. But the 98.10% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.