Zeta Network Group (NASDAQ:ZNB) Trading Down 4.8% – Time to Sell?

Zeta Network Group (NASDAQ:ZNB)’s share price was down 4.8% on Friday . The stock traded as low as $1.60 and last traded at $1.60. 44,831 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 1,518,669 shares. The stock had previously closed at $1.68.

Analyst Upgrades and Downgrades

ZNB has been the subject of several research analyst reports. Wall Street Zen raised Zeta Network Group to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Zeta Network Group in a report on Tuesday, July 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Zeta Network Group Stock Down 4.8%

The stock’s 50 day simple moving average is $2.79 and its 200 day simple moving average is $31.67.

Zeta Network Group (NASDAQ:ZNB) last posted its quarterly earnings data on Thursday, June 18th. The company reported ($681.24) earnings per share for the quarter. The firm had revenue of $8.45 million for the quarter.

Insider Buying and Selling

In other Zeta Network Group news, major shareholder Financial Lp Hrt sold 42,254 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $2.87, for a total transaction of $121,268.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders acquired 35,001 shares of company stock valued at $35,883 and sold 98,250 shares valued at $147,812. 38.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zeta Network Group

A hedge fund recently bought a new stake in Zeta Network Group stock. Anson Funds Management LP bought a new position in Zeta Network Group (NASDAQ:ZNB) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 595,397 shares of the company’s stock, valued at approximately $345,000. Anson Funds Management LP owned about 0.39% of Zeta Network Group at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.44% of the company’s stock.

About Zeta Network Group

Color Star Technology Co, Ltd., an entertainment and education company, provides online entertainment performances and music education services in the United States and China. The company operates Color World, an online platform of curriculum that includes music, sports, animation, painting and calligraphy, film and television, life skills, etc. Its Color World platform provides celebrity lectures, celebrity concert videos, celebrity peripheral products, and artist interactive communication services.