Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) Short Interest Down 61.0% in May

Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 4,641 shares, a drop of 61.0% from the May 14th total of 11,911 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 34,464 shares, the days-to-cover ratio is currently 0.1 days.

Network-1 Technologies Price Performance

NYSEAMERICAN NTIP traded down $0.01 during midday trading on Friday, hitting $1.49. 60,220 shares of the company traded hands, compared to its average volume of 27,847. The company has a market cap of $34.06 million, a PE ratio of -13.55 and a beta of 0.13. The company’s 50-day simple moving average is $1.47 and its 200-day simple moving average is $1.42. Network-1 Technologies has a 52 week low of $1.16 and a 52 week high of $1.90.

Network-1 Technologies (NYSEAMERICAN:NTIP) last announced its earnings results on Friday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter.

Institutional Trading of Network-1 Technologies

A number of institutional investors have recently made changes to their positions in NTIP. Northern Financial Advisors Inc acquired a new stake in shares of Network-1 Technologies in the 3rd quarter worth $29,000. Virtu Financial LLC acquired a new stake in Network-1 Technologies during the 3rd quarter worth about $25,000. Cannell Capital LLC lifted its position in Network-1 Technologies by 191.4% during the 3rd quarter. Cannell Capital LLC now owns 1,070,123 shares of the company’s stock worth $1,605,000 after acquiring an additional 702,833 shares during the period. Citadel Advisors LLC acquired a new stake in Network-1 Technologies during the 3rd quarter worth about $34,000. Finally, Canton Hathaway LLC lifted its position in Network-1 Technologies by 311.1% during the 1st 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 period. Institutional investors and hedge funds own 29.07% of the company’s stock.

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.