Fitell Co. (NASDAQ:FTEL) Sees Significant Increase in Short Interest

Fitell Co. (NASDAQ:FTEL) was the recipient of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 580,800 shares, a growth of 174.2% from the January 31st total of 211,800 shares. Approximately 4.3% of the company’s stock are sold short. Based on an average daily volume of 936,000 shares, the short-interest ratio is currently 0.6 days.

Hedge Funds Weigh In On Fitell

A hedge fund recently bought a new stake in Fitell stock. Y Intercept Hong Kong Ltd bought a new stake in shares of Fitell Co. (NASDAQ:FTEL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,043 shares of the company’s stock, valued at approximately $88,000. Institutional investors and hedge funds own 0.10% of the company’s stock.

Fitell Price Performance

Shares of FTEL stock traded down $0.03 during trading hours on Friday, hitting $0.68. 306,587 shares of the company’s stock traded hands, compared to its average volume of 1,342,499. The stock’s fifty day simple moving average is $6.68 and its two-hundred day simple moving average is $16.53. Fitell has a 12-month low of $0.63 and a 12-month high of $49.50.

About Fitell

Fitell Corporation, together with its subsidiaries, operates as an online retailer of gym and fitness equipment for personal training studios and commercial gyms chains in Australia and Southeast Asia. The company sells fitness equipment, including home gym and commercial strength-training equipment; and cardio equipment, such as rowing machines, exercise bikes, treadmills, and other related products under the Muscle Motion, Rapid Motion, and FleetX brand names.