Short Interest in Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) Expands By 176.6%

Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 29,681 shares, an increase of 176.6% from the June 15th total of 10,729 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 42,786 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in Network-1 Technologies during the 3rd quarter valued at $25,000. Citadel Advisors LLC acquired a new position in Network-1 Technologies in the third quarter worth $34,000. Canton Hathaway LLC grew its holdings in shares of Network-1 Technologies by 311.1% during the first quarter. Canton Hathaway LLC now owns 280,738 shares of the company’s stock worth $404,000 after purchasing an additional 212,447 shares during the last quarter. Finally, Cannell Capital LLC grew its holdings in shares of Network-1 Technologies by 191.4% during the third quarter. Cannell Capital LLC now owns 1,070,123 shares of the company’s stock worth $1,605,000 after purchasing an additional 702,833 shares during the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

Network-1 Technologies Price Performance

Shares of NTIP traded up $0.01 during trading hours on Wednesday, hitting $1.48. The stock had a trading volume of 535 shares, compared to its average volume of 262,575. The stock has a market capitalization of $33.76 million, a price-to-earnings ratio of -13.43 and a beta of 0.13. The company’s fifty day moving average is $1.48 and its two-hundred day moving average is $1.43. Network-1 Technologies has a 52 week low of $1.24 and a 52 week high of $1.90.

Network-1 Technologies (NYSEAMERICAN:NTIP) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter.

About Network-1 Technologies

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.