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

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) saw a large growth in short interest in June. As of June 15th, there was short interest totaling 62,022 shares, a growth of 108.9% from the May 31st total of 29,684 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 196,800 shares, the days-to-cover ratio is presently 0.3 days.

NIP Group Trading Down 2.0%

Shares of NIP Group stock traded down $0.01 on Wednesday, reaching $0.25. 95,244 shares of the company’s stock were exchanged, compared to its average volume of 76,454. NIP Group has a 52 week low of $0.25 and a 52 week high of $2.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s 50-day moving average is $0.48 and its two-hundred day moving average is $0.77.

Shares of NIP Group are scheduled to reverse split on the morning of Monday, July 6th. The 1-30 reverse split was announced on Wednesday, July 1st. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, July 5th.

NIP Group (NASDAQ:NIPG) last released its quarterly earnings data on Friday, May 1st. The company reported $0.92 EPS for the quarter, beating the consensus estimate of ($0.09) by $1.01. The firm had revenue of $32.68 million for the quarter, compared to the consensus estimate of $55.00 million.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIP Group in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, NIP Group has a consensus rating of “Sell”.

NIP Group Company Profile

Our mission is to create transformative esports experiences that entertain, inspire and connect fans across the globe. Our vision is to become the premier esports organization in the world. We are a leading esports organization with the most expansive global footprint by virtue of our operations across Asia, Europe and South America, according to the Frost & Sullivan Report. Among the top ten esports titles in the world in terms of prize pool, our wins in tier-1 world tournaments in CS:GO, Honor of Kings, Rainbow Six and FIFA represent more unique game titles with top-tier wins than any other esports organization as of January 31, 2023, according to the Frost & Sullivan Report.