Cannell Capital LLC Takes Position in Network-1 Technologies, Inc. $NTIP

Cannell Capital LLC acquired a new position in shares of Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,275,213 shares of the company’s stock, valued at approximately $1,874,563. Network-1 Technologies accounts for about 0.0% of Cannell Capital LLC’s holdings, making the stock its 24th largest holding. Cannell Capital LLC owned about 5.58% of Network-1 Technologies at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in Network-1 Technologies in the 3rd quarter valued at approximately $25,000. Citadel Advisors LLC acquired a new position in Network-1 Technologies during the 3rd quarter worth approximately $34,000. BlackRock Inc. bought a new position in shares of Network-1 Technologies during the 2nd quarter worth approximately $73,000. Empowered Funds LLC bought a new position in shares of Network-1 Technologies during the 2nd quarter worth approximately $143,000. Finally, Canton Hathaway LLC raised its holdings in shares of Network-1 Technologies by 311.1% in the first quarter. Canton Hathaway LLC now owns 280,738 shares of the company’s stock valued at $404,000 after purchasing an additional 212,447 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors.

Network-1 Technologies Stock Up 1.3%

Shares of NTIP stock opened at $1.56 on Friday. The company’s fifty day simple moving average is $1.53 and its 200-day simple moving average is $1.49. The firm has a market cap of $35.66 million, a PE ratio of -13.00 and a beta of 0.12. Network-1 Technologies, Inc. has a 12 month low of $1.24 and a 12 month high of $1.90.

Network-1 Technologies (NYSEAMERICAN:NTIP) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter.

Network-1 Technologies Company Profile

Network-1 Technologies is a technology licensing company that focuses on the acquisition, development and monetization of intellectual property. The firm’s core business revolves around enforcing and licensing its patent portfolio to manufacturers and distributors of networking and power delivery equipment. By leveraging its proprietary technologies, Network-1 seeks to generate recurring revenue through negotiated licensing agreements and, when necessary, litigation to protect its patents.

The company’s principal assets consist of granted patents and patent applications related to Power over Ethernet (PoE) and network security technologies.