Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) Sees Significant Drop in Short Interest

Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) was the recipient of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 14,266 shares, a decrease of 30.3% from the February 12th total of 20,466 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 23,100 shares, the short-interest ratio is currently 0.6 days. Based on an average daily trading volume, of 23,100 shares, the short-interest ratio is currently 0.6 days. Approximately 0.1% of the company’s stock are sold short.

Network-1 Technologies Stock Performance

Shares of NYSEAMERICAN:NTIP traded down $0.05 during trading on Monday, reaching $1.45. 3,069 shares of the stock traded hands, compared to its average volume of 34,829. The stock has a market cap of $32.97 million, a P/E ratio of -13.14 and a beta of 0.13. The stock has a 50-day moving average of $1.38 and a two-hundred day moving average of $1.44. Network-1 Technologies has a 52-week low of $1.16 and a 52-week high of $1.90.

Network-1 Technologies (NYSEAMERICAN:NTIP) last announced its quarterly earnings data on Friday, March 13th. The company reported ($0.05) earnings per share for the quarter.

Network-1 Technologies Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a dividend yield of 687.0%. Network-1 Technologies’s dividend payout ratio (DPR) is -166.67%.

Hedge Funds Weigh In On Network-1 Technologies

A number of hedge funds have recently bought and sold shares of NTIP. Virtu Financial LLC purchased a new stake in shares of Network-1 Technologies during the 3rd quarter valued at about $25,000. Northern Financial Advisors Inc purchased a new position in shares of Network-1 Technologies during the third quarter valued at approximately $29,000. Citadel Advisors LLC purchased a new position in shares of Network-1 Technologies during the third quarter valued at approximately $34,000. Canton Hathaway LLC lifted its position in Network-1 Technologies by 31.6% during the third quarter. Canton Hathaway LLC now owns 68,291 shares of the company’s stock valued at $102,000 after purchasing an additional 16,400 shares during the period. Finally, Cannell Capital LLC boosted its holdings in Network-1 Technologies by 191.4% in 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. Hedge funds and other institutional investors own 29.07% of the company’s stock.

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.