Fitell (NASDAQ:FTEL) Shares Gap Up – Still a Buy?

Fitell Co. (NASDAQ:FTEL) shares gapped up before the market opened on Wednesday . The stock had previously closed at $25.99, but opened at $26.88. Fitell shares last traded at $26.90, with a volume of 22,161 shares traded.

Fitell Stock Performance

The company has a 50 day moving average price of $23.34 and a 200 day moving average price of $20.68.

Institutional Investors Weigh In On Fitell

A hedge fund recently bought a new stake in Fitell stock. XTX Topco Ltd acquired a new position in shares of Fitell Co. (NASDAQ:FTEL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,028 shares of the company’s stock, valued at approximately $274,000. XTX Topco Ltd owned approximately 0.08% of Fitell at the end of the most recent quarter. Institutional investors own 0.10% of the company’s stock.

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.