Network-1 Technologies Inc (NTIP) Short Interest Update
Network-1 Technologies Inc (NYSE:NTIP) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 44,466 shares, a decline of 49.4% from the August 15th total of 87,906 shares. Based on an average trading volume of 54,809 shares, the short-interest ratio is presently 0.8 days. Approximately 0.3% of the shares of the stock are sold short.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DRW Securities LLC bought a new position in Network-1 Technologies in the second quarter valued at $170,000. Russell Investments Group Ltd. increased its stake in Network-1 Technologies by 9.3% in the second quarter. Russell Investments Group Ltd. now owns 49,804 shares of the company’s stock valued at $212,000 after acquiring an additional 4,236 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Network-1 Technologies by 452.0% in the second quarter. Goldman Sachs Group Inc. now owns 55,590 shares of the company’s stock valued at $236,000 after acquiring an additional 45,520 shares during the last quarter. Seizert Capital Partners LLC increased its stake in Network-1 Technologies by 60.4% in the second quarter. Seizert Capital Partners LLC now owns 106,213 shares of the company’s stock valued at $451,000 after acquiring an additional 39,975 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Network-1 Technologies by 98.0% in the second quarter. JPMorgan Chase & Co. now owns 107,529 shares of the company’s stock valued at $457,000 after acquiring an additional 53,229 shares during the last quarter.
Shares of Network-1 Technologies (NYSE NTIP) opened at 3.90 on Wednesday. Network-1 Technologies has a 12 month low of $2.50 and a 12 month high of $5.05. The company’s 50-day moving average price is $3.96 and its 200-day moving average price is $4.26. The company has a market cap of $94.22 million and a price-to-earnings ratio of 6.79.
Network-1 Technologies (NYSE:NTIP) last released its earnings results on Monday, August 14th. The company reported $0.06 EPS for the quarter. The business had revenue of $4.86 million for the quarter. Network-1 Technologies had a return on equity of 11.15% and a net margin of 31.76%.
The company also recently announced a semiannual dividend, which will be paid on Wednesday, September 20th. Investors of record on Friday, September 1st will be paid a $0.05 dividend. The ex-dividend date is Wednesday, August 30th. This represents a yield of 2.41%.
Network-1 Technologies declared that its board has approved a share buyback plan on Friday, June 16th that permits the company to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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About Network-1 Technologies
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