Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP – Get Free Report) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 10,729 shares, a growth of 131.2% from the May 31st total of 4,641 shares. Based on an average daily volume of 27,183 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the company’s stock are sold short.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Network-1 Technologies during the 3rd quarter worth $25,000. Cannell Capital LLC grew its stake in shares of Network-1 Technologies by 191.4% during the third quarter. Cannell Capital LLC now owns 1,070,123 shares of the company’s stock valued at $1,605,000 after acquiring an additional 702,833 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Network-1 Technologies during the third quarter valued at about $34,000. Finally, Canton Hathaway LLC increased its position in shares of Network-1 Technologies by 311.1% during the first quarter. Canton Hathaway LLC now owns 280,738 shares of the company’s stock worth $404,000 after acquiring an additional 212,447 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.
Network-1 Technologies Trading Down 1.3%
Shares of NTIP traded down $0.02 during midday trading on Tuesday, reaching $1.47. 20,633 shares of the company were exchanged, compared to its average volume of 33,537. Network-1 Technologies has a 1-year low of $1.20 and a 1-year high of $1.90. The stock has a 50-day moving average price of $1.47 and a 200-day moving average price of $1.42. The company has a market cap of $33.60 million, a price-to-earnings ratio of -13.36 and a beta of 0.13.
About Network-1 Technologies
Network-1 Technologies is a technology licensing company that focuses on the acquisition, development and monetization of intellectual property. The firm’s core business revolves around enforcing and licensing its patent portfolio to manufacturers and distributors of networking and power delivery equipment. By leveraging its proprietary technologies, Network-1 seeks to generate recurring revenue through negotiated licensing agreements and, when necessary, litigation to protect its patents.
The company’s principal assets consist of granted patents and patent applications related to Power over Ethernet (PoE) and network security technologies.
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