ZW Data Action Technologies Inc. (NASDAQ:CNET) Sees Large Decrease in Short Interest

ZW Data Action Technologies Inc. (NASDAQ:CNET) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 4,800 shares, a decline of 78.8% from the February 29th total of 22,600 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 27,500 shares, the days-to-cover ratio is presently 0.2 days.

ZW Data Action Technologies Stock Performance

Shares of NASDAQ:CNET remained flat at $1.02 during trading on Thursday. 82,558 shares of the stock were exchanged, compared to its average volume of 27,212. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.84. ZW Data Action Technologies has a 12 month low of $0.69 and a 12 month high of $2.03. The business’s 50 day moving average is $0.92 and its two-hundred day moving average is $0.92.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of ZW Data Action Technologies in a research note on Monday. They issued a “sell” rating on the stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ZW Data Action Technologies stock. Renaissance Technologies LLC lifted its stake in shares of ZW Data Action Technologies Inc. (NASDAQ:CNET) by 771.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 144,697 shares of the business services provider’s stock after acquiring an additional 128,097 shares during the period. Renaissance Technologies LLC owned 0.41% of ZW Data Action Technologies worth $49,000 at the end of the most recent reporting period. 0.01% of the stock is currently owned by hedge funds and other institutional investors.

About ZW Data Action Technologies

ZW Data Action Technologies Inc, through its subsidiaries, provides omni-channel advertising, precision marketing, and data analysis management systems in the People's Republic of China. It offers Internet advertising, precision marketing, and related data services to small and medium enterprises through its Internet portals, including 28.com and liansuo.com that provide advertisers with tools to build sales channels in the form of franchisees, sales agents, distributors, and/or resellers.