Logistics Innovation Technologies Corp. (NASDAQ:LITT – Get Rating) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 20,600 shares, a growth of 243.3% from the August 15th total of 6,000 shares. Based on an average daily trading volume, of 127,100 shares, the short-interest ratio is presently 0.2 days.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. CAPROCK Group Inc. raised its holdings in shares of Logistics Innovation Technologies by 187.0% in the 1st quarter. CAPROCK Group Inc. now owns 2,348,920 shares of the company's stock valued at $22,820,000 after acquiring an additional 1,530,535 shares in the last quarter. 683 Capital Management LLC raised its stake in Logistics Innovation Technologies by 5.3% during the fourth quarter. 683 Capital Management LLC now owns 1,999,999 shares of the company's stock valued at $19,360,000 after buying an additional 100,000 shares during the last quarter. Sculptor Capital LP increased its holdings in shares of Logistics Innovation Technologies by 57.9% in the 2nd quarter. Sculptor Capital LP now owns 1,758,012 shares of the company's stock worth $17,088,000 after purchasing an additional 644,854 shares in the last quarter. Third Point LLC bought a new stake in shares of Logistics Innovation Technologies in the 4th quarter worth $9,680,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Logistics Innovation Technologies in the 1st quarter worth $9,517,000. Hedge funds and other institutional investors own 65.40% of the company's stock.
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Logistics Innovation Technologies Price Performance
Shares of NASDAQ LITT remained flat at $9.75 during trading on Friday. The stock had a trading volume of 368,355 shares, compared to its average volume of 279,907. Logistics Innovation Technologies has a 1 year low of $9.61 and a 1 year high of $9.85. The firm has a 50-day moving average of $9.75 and a 200-day moving average of $9.73.
Logistics Innovation Technologies Company Profile
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Logistics Innovation Technologies Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire businesses serving the senior market or capable of being repositioned to do so.
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