NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) Sees Large Growth in Short Interest

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 11,817 shares, a growth of 60.7% from the August 15th total of 7,353 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 68,333 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of NIP Group in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

NIP Group Stock Performance

Shares of NIPG opened at $12.85 on Friday. The stock has a 50-day moving average of $11.57 and a two-hundred day moving average of $15.15. NIP Group has a one year low of $4.20 and a one year high of $57.60. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.01.

About NIP Group

NIP Group (NASDAQ: NIPG) is a global esports and gaming entertainment company. The group operates competitive esports teams, develops gaming-related content, and provides services for brands, game publishers, tournament organizers and other partners. Its activities span team operations, esports event participation, content creation, sponsorships, merchandising and related gaming lifestyle initiatives.

The company’s principal brands include Ninjas in Pyjamas, a longstanding esports organization founded in Sweden in 2000, and ESV5, its China-focused esports and entertainment platform.