Network-1 Technologies Inc (NTIP) Sees Significant Drop in Short Interest
Network-1 Technologies Inc (NYSE:NTIP) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 44,466 shares, a decrease of 49.4% from the August 15th total of 87,906 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 54,809 shares, the days-to-cover ratio is presently 0.8 days.
Several institutional investors and hedge funds have recently modified their holdings of the company. DRW Securities LLC bought a new stake in shares of Network-1 Technologies during the 2nd quarter valued at about $170,000. Goldman Sachs Group Inc. boosted its position in shares of Network-1 Technologies by 452.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 55,590 shares of the company’s stock valued at $236,000 after acquiring an additional 45,520 shares during the last quarter. Numeric Investors LLC boosted its position in shares of Network-1 Technologies by 107.5% during the 2nd quarter. Numeric Investors LLC now owns 1,137,952 shares of the company’s stock valued at $4,836,000 after acquiring an additional 589,543 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Network-1 Technologies by 1,731.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 230,276 shares of the company’s stock valued at $979,000 after acquiring an additional 217,705 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Network-1 Technologies by 43.9% during the 2nd quarter. Vanguard Group Inc. now owns 383,534 shares of the company’s stock valued at $1,630,000 after acquiring an additional 116,981 shares during the last quarter.
Shares of Network-1 Technologies (NTIP) opened at 3.70 on Friday. The company’s 50-day moving average is $3.93 and its 200 day moving average is $4.26. The company has a market cap of $89.39 million and a PE ratio of 6.45. Network-1 Technologies has a 52-week low of $2.50 and a 52-week high of $5.05.
Network-1 Technologies (NYSE:NTIP) last issued its earnings results on Monday, August 14th. The company reported $0.06 EPS for the quarter. Network-1 Technologies had a return on equity of 11.15% and a net margin of 31.76%. The business had revenue of $4.86 million during the quarter.
The business also recently announced a semiannual dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Friday, September 1st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a yield of 2.41%.
Network-1 Technologies announced that its Board of Directors has initiated a share buyback plan on Friday, June 16th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Network-1 Technologies Company Profile
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