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

Fitell Co. (NASDAQ:FTEL)’s stock price dropped 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 Down 12.3 %

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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 SEC. The institutional investor purchased 10,043 shares of the company’s stock, valued at approximately $88,000. Hedge funds and other institutional investors own 0.10% of the company’s stock.

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.