Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) Sees Significant Growth in Short Interest
by Michael Walen · The Markets DailyNetwork-1 Technologies, Inc. (NYSEAMERICAN:NTIP – Get Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 22,643 shares, a growth of 306.3% from the March 15th total of 5,573 shares. Based on an average daily volume of 38,889 shares, the short-interest ratio is currently 0.6 days. Approximately 0.1% of the shares of the company are sold short.
Institutional Investors Weigh In On Network-1 Technologies
Several institutional investors have recently modified their holdings of the company. Canton Hathaway LLC boosted its stake in shares of Network-1 Technologies by 31.6% during the 3rd quarter. Canton Hathaway LLC now owns 68,291 shares of the company’s stock worth $102,000 after acquiring an additional 16,400 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Network-1 Technologies during the 3rd quarter worth approximately $25,000. Northern Financial Advisors Inc purchased a new stake in shares of Network-1 Technologies during the 3rd quarter worth approximately $29,000. Citadel Advisors LLC purchased a new stake in shares of Network-1 Technologies during the 3rd quarter worth approximately $34,000. Finally, Cannell Capital LLC boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.
Network-1 Technologies Stock Performance
NYSEAMERICAN NTIP opened at $1.42 on Monday. The business’s 50 day moving average is $1.44 and its two-hundred day moving average is $1.43. Network-1 Technologies has a 12-month low of $1.16 and a 12-month high of $1.90. The stock has a market capitalization of $32.36 million, a price-to-earnings ratio of -12.91 and a beta of 0.13.
Network-1 Technologies (NYSEAMERICAN:NTIP – Get Free Report) last released its earnings results on Friday, March 13th. The company reported ($0.05) earnings per share (EPS) for the quarter.
Network-1 Technologies Dividend Announcement
The company also recently declared a dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a dividend yield of 690.0%. Network-1 Technologies’s payout ratio is -166.67%.
About Network-1 Technologies
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.