Health In Tech Inc. (NASDAQ:HIT) rose 27.65% in after-hours trading on Tuesday to $2.17 after the Florida-based company announced a strategic collaboration with global AI software engineering firm Ciklum.
HIT closed the regular session at $1.70, down 0.58%, according to Benzinga Pro data.
After-Hours Spike Follows Partnership Announcement
The partnership, announced by Health In Tech after the market closed on Tuesday, targets HIT’s self-funded stop-loss health insurance marketplace, which serves more than 800 brokers, third-party administrators, managing general underwriters and carriers in 40 states.
Ciklum, an Amazon Web Services Advanced Tier Services Partner, will optimize the platform’s administrative, sales and analytics capabilities.
Health In Tech said the initiative aims to expand both front- and back-end functionality, creating an integrated environment from AI-driven bindable quotes to AI-enabled financial reporting and analytics, hosted on AWS.
CEO Cites Retention and Revenue Goals
Tim Johnson, CEO of Health In Tech, said, “This collaboration reflects the strategic technology investments we are making today with the goal of supporting greater platform adoption, stronger customer retention, and long-term revenue growth.”
Raj Radhakrishnan, CEO of Ciklum, said, “Health in Tech is redefining how self-funded stop-loss insurance is delivered, 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 52-week low of $0.51.
The Relative Strength Index (RSI) of HIT stands at 57.48.
Over the past 12 months, the stock of the AI-enabled insurance technology platform has gained 150%.
The stock is currently trading at about 66% below the 52-week high.
Benzinga’s Edge Stock Rankings indicates HIT stock has a positive price trend across all time frames.
Photo: Champ008 / Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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