ZW Data Action Technologies (NASDAQ:CNET) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

ZW Data Action Technologies Inc. (NASDAQ:CNET) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.89 and traded as high as $0.9650. ZW Data Action Technologies shares last traded at $0.9020, with a volume of 8,764 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of ZW Data Action Technologies in a research report on Friday, May 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

ZW Data Action Technologies Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market cap of $2.91 million, a price-to-earnings ratio of -1.89 and a beta of 0.85. The stock has a 50-day moving average price of $0.90 and a 200 day moving average price of $0.89.

ZW Data Action Technologies (NASDAQ:CNET) last issued its quarterly earnings data on Friday, May 15th. The business services provider reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $0.38 million during the quarter. ZW Data Action Technologies had a negative return on equity of 28.28% and a negative net margin of 33.30%.

Institutional Investors Weigh In On ZW Data Action Technologies

A hedge fund recently bought a new stake in ZW Data Action Technologies stock. DRW Securities LLC acquired a new position in shares of ZW Data Action Technologies Inc. (NASDAQ:CNET) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,262 shares of the business services provider’s stock, valued at approximately $29,000. DRW Securities LLC owned 0.65% of ZW Data Action Technologies as of its most recent SEC filing. Hedge funds and other institutional investors own 0.01% of the company’s stock.

About ZW Data Action Technologies

ZW Data Action Technologies, Inc provides cloud-based software and digital solutions for the insurance industry in China. Through its subsidiaries, the company offers a multi-tenant insurance platform designed to streamline policy administration, underwriting, claims processing and distribution management. Its core suite of SaaS products enables property and casualty carriers, life insurers, brokers and agents to launch new products quickly, automate routine processes and integrate data from third-party sources for enhanced decision-making.

Beyond its software offerings, ZW Data Action Technologies delivers business process outsourcing services via a dedicated call center that handles customer support, policy issuance, claims intake and other administrative functions.