Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP – Get Free Report) saw a large increase in short interest in July. As of July 31st, there was short interest totaling 66,368 shares, an increase of 122.9% from the July 15th total of 29,772 shares. Based on an average daily trading volume, of 42,667 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.4% of the company’s stock are short sold.
Institutional Investors Weigh In On Network-1 Technologies
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC acquired a new stake in shares of Network-1 Technologies during the 3rd quarter valued at about $34,000. Virtu Financial LLC bought a new stake in shares of Network-1 Technologies in the 3rd quarter valued at approximately $25,000. BlackRock Inc. acquired a new position in Network-1 Technologies in the second quarter worth approximately $73,000. Finally, Canton Hathaway LLC increased its holdings in Network-1 Technologies by 311.1% in the first quarter. Canton Hathaway LLC now owns 280,738 shares of the company’s stock worth $404,000 after buying an additional 212,447 shares during the last quarter. 29.07% of the stock is owned by hedge funds and other institutional investors.
Network-1 Technologies Stock Up 0.6%
Shares of NYSEAMERICAN:NTIP traded up $0.01 during trading on Friday, reaching $1.55. 17,684 shares of the company traded hands, compared to its average volume of 32,337. The firm has a fifty day simple moving average of $1.52 and a 200 day simple moving average of $1.47. Network-1 Technologies has a 1-year low of $1.24 and a 1-year high of $1.90. The firm has a market cap of $35.43 million, a P/E ratio of -12.92 and a beta of 0.12.
Network-1 Technologies Company Profile
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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