Key Points
- Director James Flynn purchased 70,000 shares of Lite Strategy at an average price of $1.40 per share (a $98,000 transaction), increasing his ownership to 100,000 shares — a 233.33% rise — as disclosed in an SEC filing.
- Lite Strategy's board authorized a $25.0 million share repurchase program that could buy up to 36.3% of outstanding shares, signaling the board believes the stock may be undervalued.
- The stock trades near the low end of its 12‑month range (low $1.33, high $9.00) with a market cap of about $51.9 million and a consensus analyst rating of "Sell," though one firm recently raised its rating to "Hold."
Lite Strategy, Inc. (NASDAQ:LITS - Get Free Report) Director James Flynn bought 70,000 shares of the stock in a transaction dated Friday, December 19th. The shares were purchased at an average cost of $1.40 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director owned 100,000 shares in the company, valued at approximately $140,000. This represents a 233.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Lite Strategy Stock Down 1.4%
NASDAQ LITS opened at $1.41 on Tuesday. The firm has a market cap of $51.86 million, a PE ratio of -1.42 and a beta of 0.23. Lite Strategy, Inc. has a twelve month low of $1.33 and a twelve month high of $9.00. The business has a 50-day simple moving average of $1.84.
Lite Strategy (NASDAQ:LITS - Get Free Report) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.12) EPS for the quarter.
Lite Strategy announced that its board has initiated a share repurchase plan on Wednesday, October 29th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 36.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Analyst Ratings Changes
Several research firms have issued reports on LITS. Wall Street Zen raised shares of Lite Strategy from a "sell" rating to a "hold" rating in a report on Sunday, November 23rd. Weiss Ratings restated a "sell (e+)" rating on shares of Lite Strategy in a research report on Wednesday, December 10th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Lite Strategy currently has a consensus rating of "Sell".
Get Our Latest Research Report on Lite Strategy
About Lite Strategy
(
Get Free Report)
MEI Pharma, Inc, a late-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor that is in Phase III clinical trial for the treatment of patients with relapsed/refractory follicular lymphoma, as well as in Phase Ib multi-arm trial to treat B-cell malignancies; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
