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

Fitell Co. (NASDAQ:FTEL) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 492,600 shares, a decrease of 15.2% from the February 13th total of 580,800 shares. Based on an average daily trading volume, of 941,400 shares, the short-interest ratio is currently 0.5 days. Currently, 3.5% of the shares of the stock are sold short.

Institutional Trading of Fitell

An institutional investor recently bought a new position in Fitell stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Fitell Co. (NASDAQ:FTEL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 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 Trading Up 23.0 %

Shares of NASDAQ FTEL opened at $0.90 on Friday. The firm’s 50-day simple moving average is $4.28 and its 200 day simple moving average is $15.05. Fitell has a 12-month low of $0.51 and a 12-month high of $49.50.

Fitell Company Profile

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.