Health In Tech Inc. (NASDAQ:HIT) surged 27.65% during after-hours trading on Tuesday, to $2.17, after the Florida-based company announced a strategic collaboration with global software engineering firm Ciklum.
HIT closed the regular session at $1.70, down 0.58%, according to Benzinga Pro data.
The after-hours spike follows the announcement of a partnership.
The partnership, announced by Health In Tech after Tuesday’s market close, targets HIT’s self-funded health insurance stop-loss market, serving over 800 brokers, third-party administrators, general underwriters, and carriers in 40 states.
Ciklum, a partner of Amazon Web Services’ advanced service levels, will enhance the platform’s administrative, commercial, and analytical capabilities.
Health In Tech stated that the initiative aims to expand functionality both on the front-end and back-end, creating an integrated environment, from AI-driven quotes to AI-powered financial reports and analytics hosted on AWS.
The CEO discusses retention and revenue goals.
Tim Johnson, CEO of Health In Tech, stated: “This collaboration reflects the strategic technological investments we are making today to support greater platform adoption, better customer retention, and long-term revenue growth.”
Raj Radhakrishnan, CEO of Ciklum, stated: “Health in Tech is redefining the delivery of self-funded stop-loss insurance, bringing simplicity, transparency, and scalability to a complex ecosystem.”
Trading metrics, technical analysis.
Health In Tech has a market capitalization of $96.74 million, with a 52-week high of $4.01 and a low of $0.51.
HIT’s Relative Strength Index (RSI) is 57.48.
Over the past 12 months, the AI-driven insurance technology platform’s stock has gained 150%.
The stock is currently trading around 66% below the 52-week high.
Benzinga’s stock ratings indicate a positive price trend for HIT across all timeframes.
[Context: Health In Tech Inc. experienced a significant increase in its stock value after announcing a partnership with Ciklum, a global software engineering company. The collaboration aims to enhance HIT’s healthcare insurance platform with advanced technology.]
[Fact Check: The content has been partially produced using AI tools and reviewed by Benzinga editors.]
