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

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

Fitell Price Performance

FTEL traded down $0.03 during mid-day trading on Friday, reaching $0.68. 306,587 shares of the company traded hands, compared to its average volume of 1,342,499. The company’s fifty day moving average price is $6.68 and its 200-day moving average price is $16.53. Fitell has a 52-week low of $0.63 and a 52-week high of $49.50.

Institutional Investors Weigh In On Fitell

An institutional investor recently bought a new position in Fitell stock. Y Intercept Hong Kong Ltd acquired a new position in Fitell Co. (NASDAQ:FTEL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,043 shares of the company’s stock, valued at approximately $88,000. Institutional investors own 0.10% of the company’s stock.

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.