Short Interest in NetEase, Inc. (NTES) Expands By 30.3%
NetEase, Inc. (NASDAQ:NTES) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 2,174,612 shares, an increase of 30.3% from the July 14th total of 1,669,003 shares. Based on an average trading volume of 990,129 shares, the short-interest ratio is presently 2.2 days.
Several analysts recently weighed in on the stock. CLSA cut shares of NetEase from an “outperform” rating to an “underperform” rating in a report on Thursday, August 10th. BidaskClub upgraded shares of NetEase from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Deutsche Bank AG reiterated a “buy” rating and issued a $343.00 price target (up previously from $300.00) on shares of NetEase in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of NetEase from a “hold” rating to a “strong-buy” rating and set a $346.00 price target on the stock in a report on Wednesday, July 12th. Finally, Standpoint Research cut shares of NetEase from a “buy” rating to a “reduce” rating and lifted their price target for the company from $345.00 to $360.00 in a report on Wednesday, June 7th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $301.90.
Shares of NetEase (NTES) opened at 276.07 on Wednesday. NetEase has a one year low of $199.01 and a one year high of $337.55.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 25th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, August 23rd. NetEase’s payout ratio is 24.73%.
Several institutional investors have recently bought and sold shares of NTES. Assetmark Inc. increased its position in NetEase by 51.0% in the first quarter. Assetmark Inc. now owns 367 shares of the technology company’s stock worth $104,000 after buying an additional 124 shares during the last quarter. IFP Advisors Inc increased its position in NetEase by 21.4% in the second quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock worth $118,000 after buying an additional 69 shares during the last quarter. PNC Financial Services Group Inc. increased its position in NetEase by 22.4% in the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after buying an additional 98 shares during the last quarter. Howe & Rusling Inc. increased its position in NetEase by 7.2% in the first quarter. Howe & Rusling Inc. now owns 715 shares of the technology company’s stock worth $203,000 after buying an additional 48 shares during the last quarter. Finally, Mariner Wealth Advisors LLC purchased a new position in NetEase during the second quarter worth about $203,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.
NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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