NIP Group (NASDAQ:NIPG) Trading 2.9% Higher – Still a Buy?

NIP Group Inc. (NASDAQ:NIPG) shares shot up 2.9% during trading on Tuesday . The stock traded as high as $2.28 and last traded at $2.12. 232,686 shares were traded during trading, a decline of 1% from the average session volume of 234,454 shares. The stock had previously closed at $2.06.

Analysts Set New Price Targets

Separately, Maxim Group initiated coverage on shares of NIP Group in a research note on Thursday, December 19th. They set a “buy” rating and a $12.00 target price for the company.

NIP Group Price Performance

The company has a 50 day moving average price of $3.21 and a 200 day moving average price of $5.60.

Institutional Investors Weigh In On NIP Group

A hedge fund recently bought a new stake in NIP Group stock. GAMMA Investing LLC acquired a new position in shares of NIP Group Inc. (NASDAQ:NIPG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,622 shares of the company’s stock, valued at approximately $44,000.

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.