Network-1 Technologies (NYSEAMERICAN:NTIP) Releases Quarterly Earnings Results

Network-1 Technologies (NYSEAMERICAN:NTIP) announced its earnings results on Thursday. The company reported ($0.10) earnings per share (EPS) for the quarter, FiscalAI reports.

Network-1 Technologies Stock Down 2.2%

NYSEAMERICAN NTIP traded down $0.04 on Friday, reaching $1.56. The stock had a trading volume of 1,553 shares, compared to its average volume of 170,036. The firm has a market capitalization of $35.78 million, a price-to-earnings ratio of -13.04 and a beta of 0.13. The stock has a fifty day moving average price of $1.57 and a two-hundred day moving average price of $1.49. Network-1 Technologies has a 12-month low of $1.24 and a 12-month high of $1.75.

Network-1 Technologies Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 17th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 17th. This represents a yield of 645.0%. Network-1 Technologies’s payout ratio is presently -166.67%.

Hedge Funds Weigh In On Network-1 Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cannell Capital LLC acquired a new position in shares of Network-1 Technologies in the second quarter worth $1,874,563. Empowered Funds LLC acquired a new stake in shares of Network-1 Technologies in the second quarter valued at $143,000. Canton Hathaway LLC boosted its holdings in Network-1 Technologies by 33.6% in the third quarter. Canton Hathaway LLC now owns 328,163 shares of the company’s stock valued at $525,000 after purchasing an additional 82,490 shares during the period. Finally, BlackRock Inc. purchased a new position in Network-1 Technologies in the second quarter valued at $73,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Network-1 Technologies Company Profile

Network-1 Technologies, Inc (NYSE American: NTIP) is an intellectual property company focused on acquiring, developing and licensing technology patents. Rather than operating as a conventional product manufacturer, the company seeks to generate revenue by monetizing patent rights through licensing agreements and related enforcement activities.

Network-1 has historically held patents covering technologies used in computer networking, communications and digital media. Its portfolio has included intellectual property relating to remote power-management systems for network devices, including technology associated with delivering power over Ethernet cabling, as well as patents involving digital content management and other information-technology applications.