ZW Data Action Technologies Inc. (NASDAQ:CNET) Sees Significant Decline in Short Interest

ZW Data Action Technologies Inc. (NASDAQ:CNET) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 24,280 shares, a decrease of 76.1% from the June 30th total of 101,455 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 28,404 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On ZW Data Action Technologies

An institutional investor recently bought a new stake in ZW Data Action Technologies stock. Citadel Advisors LLC acquired a new stake in shares of ZW Data Action Technologies Inc. (NASDAQ:CNET) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 36,837 shares of the business services provider’s stock, valued at approximately $86,000. Citadel Advisors LLC owned 1.13% of ZW Data Action Technologies as of its most recent filing with the Securities & Exchange Commission. 0.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

ZW Data Action Technologies Stock Performance

Shares of CNET stock traded down $0.12 during trading hours on Friday, reaching $0.79. 5,650,732 shares of the company’s stock were exchanged, compared to its average volume of 225,136. The stock has a market capitalization of $2.91 million, a P/E ratio of -1.89 and a beta of 0.85. ZW Data Action Technologies has a fifty-two week low of $0.57 and a fifty-two week high of $2.78. The business has a fifty day moving average price of $0.90 and a 200-day moving average price of $0.89. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.03.

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

ZW Data Action Technologies Company Profile

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.