Fitell (NASDAQ:FTEL) Trading Down 14% – Should You Sell?

Shares of Fitell Co. (NASDAQ:FTEL) were down 14% during mid-day trading on Monday . The company traded as low as $0.54 and last traded at $0.55. Approximately 115,025 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 456,837 shares. The stock had previously closed at $0.64.

Fitell Trading Down 14.0 %

The business’s fifty day moving average price is $0.71 and its 200 day moving average price is $12.45.

Institutional Investors Weigh In On Fitell

An institutional investor recently bought a new position in Fitell stock. Y Intercept Hong Kong Ltd purchased a new stake in Fitell Co. (NASDAQ:FTEL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,043 shares of the company’s stock, valued at approximately $88,000. 0.10% of the stock is owned by institutional investors and hedge funds.

About Fitell

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.