3 E Network Technology Group Ltd (NASDAQ:MASK) Short Interest Up 261.1% in May

3 E Network Technology Group Ltd (NASDAQ:MASK) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 85,960 shares, a growth of 261.1% from the April 30th total of 23,802 shares. Based on an average trading volume of 8,601,977 shares, the days-to-cover ratio is presently 0.0 days. Currently, 9.3% of the company’s stock are sold short.

Institutional Trading of 3 E Network Technology Group

A hedge fund recently bought a new stake in 3 E Network Technology Group stock. L1 Global Manager Pty Ltd purchased a new position in shares of 3 E Network Technology Group Ltd (NASDAQ:MASK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,248,611 shares of the company’s stock, valued at approximately $300,000. L1 Global Manager Pty Ltd owned approximately 5.38% of 3 E Network Technology Group as of its most recent SEC filing.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MASK. Wall Street Zen raised shares of 3 E Network Technology Group to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings raised shares of 3 E Network Technology Group from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, 3 E Network Technology Group presently has an average rating of “Sell”.

3 E Network Technology Group Stock Up 1.8%

MASK traded up $0.08 during midday trading on Friday, reaching $4.21. 18,112,477 shares of the company’s stock were exchanged, compared to its average volume of 4,190,775. 3 E Network Technology Group has a one year low of $1.18 and a one year high of $95.50. The business has a 50-day simple moving average of $1.91 and a two-hundred day simple moving average of $5.26.

3 E Network Technology Group (NASDAQ:MASK) last announced its quarterly earnings results on Wednesday, May 27th. The company reported ($0.18) EPS for the quarter. The business had revenue of $1.86 million for the quarter.

About 3 E Network Technology Group

3 E Network Technology Group Ltd. operates as a holding company, which engages in the provision of business-to-business information technology business solutions. It offers business solutions to a variety of industries and sectors, including food establishments, real estate, exhibition and conferencing, and clean energy utilities. The company was founded on October 6, 2021 and is headquartered in Guangzhou, China.