Fitell (NASDAQ:FTEL) Stock Price Down 12.3% – Should You Sell?

Fitell Co. (NASDAQ:FTEL)’s stock price was down 12.3% on Tuesday . The stock traded as low as $0.71 and last traded at $0.74. Approximately 438,329 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 1,429,122 shares. The stock had previously closed at $0.84.

Fitell Stock Performance

The business’s 50-day moving average is $7.00 and its two-hundred day moving average is $16.82.

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 shares of Fitell Co. (NASDAQ:FTEL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,043 shares of the company’s stock, valued at approximately $88,000. 0.10% of the stock is currently owned by hedge funds and other institutional investors.

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.