ZW Data Action Technologies Inc. (NASDAQ:CNET) Sees Large Decrease in Short Interest

ZW Data Action Technologies Inc. (NASDAQ:CNET) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 4,800 shares, a decline of 78.8% from the February 29th total of 22,600 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 27,500 shares, the short-interest ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of ZW Data Action Technologies in a research report on Monday. They issued a “sell” rating for the company.

ZW Data Action Technologies Price Performance

Shares of NASDAQ:CNET remained flat at $1.02 during trading on Thursday. 82,558 shares of the company were exchanged, compared to its average volume of 27,212. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.01. ZW Data Action Technologies has a twelve month low of $0.69 and a twelve month high of $2.03. The company’s 50 day moving average is $0.92 and its 200 day moving average is $0.92.

Institutional Investors Weigh In On ZW Data Action Technologies

A hedge fund recently raised its stake in ZW Data Action Technologies stock. Renaissance Technologies LLC grew its position in ZW Data Action Technologies Inc. (NASDAQ:CNET) by 771.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 144,697 shares of the business services provider’s stock after purchasing an additional 128,097 shares during the period. Renaissance Technologies LLC owned approximately 0.41% of ZW Data Action Technologies worth $49,000 as of its most recent SEC filing. 0.01% of the stock is currently owned by hedge funds and other institutional investors.

About ZW Data Action Technologies

ZW Data Action Technologies Inc, through its subsidiaries, provides omni-channel advertising, precision marketing, and data analysis management systems in the People's Republic of China. It offers Internet advertising, precision marketing, and related data services to small and medium enterprises through its Internet portals, including 28.com and liansuo.com that provide advertisers with tools to build sales channels in the form of franchisees, sales agents, distributors, and/or resellers.