China Information Technology, I (NASDAQ:CNIT) Closed Above Its 50 Day Moving Average

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It is trading at $1.27 barely above the 50 day moving average of $1.21 and quite a bit higher than the 200 day moving average of $0.98. The 50 day moving average went up $0.07 or +5.3902% whereas the 200 day average was up by +29.4679%. Trading was light with 2,140 shares changing hands in the last trading session. Trading volume was down 98.95% under the stocks average daily volume.

Short traders are more bullish on shares of China Information Technology, I at least if you consider the fall in short interest. The stock realized a fall in short interest of -16.90% as of the latest report on September 29, 2017. Short interest decreased 20,773 over that timeframe. Days to cover decreased from 1.0 to 1.0 and the percentage of shorted shares was 0.00% on September 29.

These firms have modified their investment in CNIT. As of the end of the quarter Citadel Advisors LLC had disposed of 4,247 shares trimming its holdings by 20.4%. The value of the investment in (CNIT) increased from $15,000 to $16,000 a change of 6.7% quarter over quarter. As of quarter end Sg Americas Securities, LLC had sold a total of 11,152 shares trimming its position 9.8%. The value of the company’s investment in China Information Technology, I went from $81,000 to $97,000 increasing 19.8% for the reporting period.

Kcg Holdings, Inc. augmented its holdings by buying 1,088 shares an increase of 7.6%. Kcg Holdings, Inc. now holds 15,390 shares with a value of $14,000. The total value of its holdings increased 40.0%. As of the end of the quarter Ubs Group Ag had sold 1,229 shares trimming its stake by 49.2%. The value in dollars went from $2,000 to $1,000 a change of $1,000 quarter to quarter.

China Information Technology, Inc. (CNIT), launched on June 18, 2012, is a provider of integrated cloud-based platform, exchange and big data solutions. The Business’s Internet ecosystem enables the participants of the media community to promote brands, disseminate information, and exchange resources. The Company operates through two segments: Cloud-based Technology (CBT) segment and Traditional Information Technology (TIT) segment. The CBT segment is its focus of corporate development. The CBT segment includes its cloud-based products and services sold to private sectors, including new media, healthcare, education and residential community management. In the CBT segment, the Company engages in the sale of hardware and total solutions of hardware, integrated with its software and content. The TIT segment includes its project-based technology products and services sold to the public sector, including geographic information systems (GIS), digital public security technology (DPST), and digital hospital information systems (DHIS). In the TIT segment, the Company engages in the sale of software and systems integration services..

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