Logistics Innovation Technologies Corp. (NASDAQ:LITT – Get Rating) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 44,000 shares, an increase of 877.8% from the October 15th total of 4,500 shares. Based on an average daily volume of 171,100 shares, the short-interest ratio is presently 0.3 days.
Logistics Innovation Technologies Stock Performance
NASDAQ LITT opened at $9.85 on Friday. The company has a 50 day moving average of $9.79 and a 200-day moving average of $9.75. Logistics Innovation Technologies has a 1-year low of $9.61 and a 1-year high of $9.86.
Get Logistics Innovation Technologies alerts:Hedge Funds Weigh In On Logistics Innovation Technologies
A number of hedge funds have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC grew its holdings in shares of Logistics Innovation Technologies by 164.9% during the 3rd quarter. Wolverine Asset Management LLC now owns 193,801 shares of the company's stock worth $1,893,000 after purchasing an additional 120,652 shares in the last quarter. UBS Group AG boosted its position in shares of Logistics Innovation Technologies by 114.5% during the 3rd quarter. UBS Group AG now owns 3,560 shares of the company's stock worth $35,000 after acquiring an additional 1,900 shares in the last quarter. Virtu Financial LLC increased its stake in shares of Logistics Innovation Technologies by 169.2% in the 3rd quarter. Virtu Financial LLC now owns 57,477 shares of the company's stock valued at $562,000 after purchasing an additional 36,123 shares during the last quarter. Sage Mountain Advisors LLC acquired a new position in Logistics Innovation Technologies during the third quarter worth about $309,000. Finally, Wealthspring Capital LLC bought a new position in Logistics Innovation Technologies in the 3rd quarter valued at approximately $1,070,000. Institutional investors own 65.40% of the company's stock.
About Logistics Innovation Technologies
(Get Rating)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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