Short Interest in Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) Declines By 60.9%
by Mitch Edgeman · The Markets DailyNetwork-1 Technologies, Inc. (NYSEAMERICAN:NTIP – Get Free Report) was the recipient of a large decrease in short interest in March. As of March 13th, there was short interest totaling 5,573 shares, a decrease of 60.9% from the February 26th total of 14,266 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 19,265 shares, the short-interest ratio is presently 0.3 days.
Institutional Trading of Network-1 Technologies
Hedge funds have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Network-1 Technologies during the third quarter worth about $25,000. Northern Financial Advisors Inc bought a new position in shares of Network-1 Technologies in the third quarter valued at approximately $29,000. Citadel Advisors LLC acquired a new position in shares of Network-1 Technologies in the 3rd quarter worth approximately $34,000. Canton Hathaway LLC grew its position in 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 during the last quarter. Finally, Cannell Capital LLC increased its holdings in Network-1 Technologies by 191.4% during the 3rd quarter. Cannell Capital LLC now owns 1,070,123 shares of the company’s stock valued at $1,605,000 after purchasing an additional 702,833 shares in the last quarter. Institutional investors own 29.07% of the company’s stock.
Network-1 Technologies Trading Down 0.7%
NYSEAMERICAN NTIP traded down $0.01 during trading on Friday, reaching $1.46. 4,756 shares of the company’s stock were exchanged, compared to its average volume of 31,194. The firm has a market capitalization of $33.27 million, a PE ratio of -13.27 and a beta of 0.13. Network-1 Technologies has a fifty-two week low of $1.16 and a fifty-two week high of $1.90. The company’s fifty day simple moving average is $1.41 and its 200-day simple moving average is $1.44.
Network-1 Technologies (NYSEAMERICAN:NTIP – Get Free Report) last issued its quarterly earnings data on Friday, March 13th. The company reported ($0.05) earnings per share for the quarter.
Network-1 Technologies Dividend Announcement
The firm also recently disclosed a dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a $0.05 dividend. This represents a dividend yield of 690.0%. The ex-dividend date of this dividend is Monday, March 16th. Network-1 Technologies’s dividend payout ratio is currently -166.67%.
Network-1 Technologies Company Profile
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.