NIP Group (NASDAQ:NIPG) Stock Falls 12.2% – Here’s What Happened

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG)’s stock price dropped 12.2% during mid-day trading on Monday. The stock traded as low as $9.55 and last traded at $9.7010. 3,170 shares were traded during trading, a decline of 71% from the average session volume of 10,755 shares. The stock had previously closed at $11.05.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NIPG shares. Wall Street Zen upgraded NIP Group to a “sell” rating in a report on Saturday, September 19th. Weiss Ratings restated a “sell (e+)” rating on shares of NIP Group in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

NIP Group Price Performance

The stock’s 50 day simple moving average is $12.48 and its two-hundred day simple moving average is $13.54.

About NIP Group

NIP Group Inc is a global digital entertainment and esports company operating through the Ninjas in Pyjamas and ESV5 brands. The company manages professional esports teams that compete in major video game titles and works with players, creators and other gaming talent.

In addition to team operations, NIP Group provides esports-related services such as content production, event and tournament activities, brand partnerships, sponsorship programs and merchandise. Its business is designed to connect gaming audiences with advertisers, game publishers and entertainment partners across international markets.

Ninjas in Pyjamas is a longstanding esports organization with roots in competitive Counter-Strike, while ESV5 has a presence in China’s gaming and esports industry.