NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) Sees Large Growth in Short Interest

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) was the target of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 166,197 shares, a growth of 31.6% from the January 29th total of 126,277 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average trading volume of 39,509 shares, the days-to-cover ratio is currently 4.2 days. Based on an average trading volume of 39,509 shares, the days-to-cover ratio is currently 4.2 days. Currently, 0.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On NIP Group

An institutional investor recently bought a new position in NIP Group stock. Quadrature Capital Ltd acquired a new position in shares of NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,782 shares of the company’s stock, valued at approximately $29,000.

NIP Group Price Performance

NIPG traded up $0.03 during midday trading on Monday, hitting $0.91. 48,446 shares of the company’s stock traded hands, compared to its average volume of 33,682. The stock’s fifty day simple moving average is $1.00 and its 200-day simple moving average is $1.40. NIP Group has a one year low of $0.75 and a one year high of $3.00.

NIP Group (NASDAQ:NIPG) last announced its quarterly earnings results on Tuesday, December 2nd. The company reported ($0.88) earnings per share for the quarter. The business had revenue of $30.58 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIP Group in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.00.

NIP Group Company Profile

Our mission is to create transformative esports experiences that entertain, inspire and connect fans across the globe. Our vision is to become the premier esports organization in the world. We are a leading esports organization with the most expansive global footprint by virtue of our operations across Asia, Europe and South America, according to the Frost & Sullivan Report. Among the top ten esports titles in the world in terms of prize pool, our wins in tier-1 world tournaments in CS:GO, Honor of Kings, Rainbow Six and FIFA represent more unique game titles with top-tier wins than any other esports organization as of January 31, 2023, according to the Frost & Sullivan Report.