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

ZW Data Action Technologies Inc. (NASDAQ:CNET) saw a large decrease in short interest in February. As of February 27th, there was short interest totaling 77,255 shares, a decrease of 59.3% from the February 12th total of 189,778 shares. Based on an average daily volume of 40,763 shares, the short-interest ratio is presently 1.9 days. Approximately 2.7% of the company’s shares are sold short. Approximately 2.7% of the company’s shares are sold short. Based on an average daily volume of 40,763 shares, the short-interest ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of ZW Data Action Technologies in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, ZW Data Action Technologies has an average rating of “Sell”.

ZW Data Action Technologies Stock Down 7.2%

NASDAQ:CNET traded down $0.06 during trading hours on Friday, reaching $0.74. The company had a trading volume of 4,424 shares, compared to its average volume of 490,707. ZW Data Action Technologies has a twelve month low of $0.60 and a twelve month high of $2.78. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.41 million, a price-to-earnings ratio of -1.00 and a beta of 0.88. The business’s 50-day simple moving average is $1.02 and its two-hundred day simple moving average is $1.51.

Institutional Trading of ZW Data Action Technologies

A hedge fund recently bought a new stake in ZW Data Action Technologies stock. Citadel Advisors LLC purchased a new position in shares of ZW Data Action Technologies Inc. (NASDAQ:CNET) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 36,837 shares of the business services provider’s stock, valued at approximately $86,000. Citadel Advisors LLC owned about 1.13% of ZW Data Action Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). 0.01% of the stock is owned by hedge funds and other institutional investors.

ZW Data Action Technologies Company Profile

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.