ZW Data Action Technologies Inc. (NASDAQ:CNET) Sees Significant Drop in Short Interest

by · The Markets Daily

ZW Data Action Technologies Inc. (NASDAQ:CNET – Get Free Report) was the recipient of a large decline in short interest in August. As of August 14th, there was short interest totaling 62,855 shares, a decline of 56.5% from the July 30th total of 144,612 shares. Based on an average daily volume of 30,885 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.1% of the company’s stock are sold short.

Institutional Investors Weigh In On ZW Data Action Technologies

A hedge fund recently bought a new position in ZW Data Action Technologies stock. DRW Securities LLC acquired a new stake in ZW Data Action Technologies Inc. (NASDAQ:CNET – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 21,262 shares of the business services provider’s stock, valued at approximately $29,000. DRW Securities LLC owned about 0.65% of ZW Data Action Technologies at the end of the most recent quarter. 0.01% of the stock is owned by hedge funds and other institutional investors.

ZW Data Action Technologies Stock Down 4.1%

ZW Data Action Technologies stock traded down $0.06 during midday trading on Friday, reaching $1.39. The company’s stock had a trading volume of 14,723 shares, compared to its average volume of 108,442. ZW Data Action Technologies has a fifty-two week low of $0.57 and a fifty-two week high of $2.78. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.03. The company has a market cap of $5.10 million, a P/E ratio of -5.56 and a beta of 0.84. The business has a 50-day simple moving average of $1.20 and a 200-day simple moving average of $0.92.

ZW Data Action Technologies (NASDAQ:CNET – Get Free Report) last released its quarterly earnings data on Friday, August 14th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter. ZW Data Action Technologies had a negative return on equity of 20.22% and a negative net margin of 23.98%.The business had revenue of $0.65 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of ZW Data Action Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Read Our Latest Research Report on ZW Data Action Technologies

About ZW Data Action Technologies

(Get Free Report)

ZW Data Action Technologies, Inc provides cloud-based software and digital solutions for the insurance industry in China. Through its subsidiaries, the company offers a multi-tenant insurance platform designed to streamline policy administration, underwriting, claims processing and distribution management. Its core suite of SaaS products enables property and casualty carriers, life insurers, brokers and agents to launch new products quickly, automate routine processes and integrate data from third-party sources for enhanced decision-making.

Beyond its software offerings, ZW Data Action Technologies delivers business process outsourcing services via a dedicated call center that handles customer support, policy issuance, claims intake and other administrative functions.

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