3 E Network Technology Group Ltd (NASDAQ:MASK) Short Interest Up 261.1% in May

3 E Network Technology Group Ltd (NASDAQ:MASK) was the target of a large growth in short interest in May. As of May 15th, there was short interest totaling 85,960 shares, a growth of 261.1% from the April 30th total of 23,802 shares. Approximately 9.3% of the company’s stock are short sold. Based on an average trading volume of 8,601,977 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in 3 E Network Technology Group stock. L1 Global Manager Pty Ltd acquired a new position in shares of 3 E Network Technology Group Ltd (NASDAQ:MASK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,248,611 shares of the company’s stock, valued at approximately $300,000. L1 Global Manager Pty Ltd owned about 5.38% of 3 E Network Technology Group at the end of the most recent reporting period.

Analysts Set New Price Targets

Several research firms recently commented on MASK. Weiss Ratings raised shares of 3 E Network Technology Group from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Wall Street Zen raised shares of 3 E Network Technology Group to a “hold” rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, 3 E Network Technology Group presently has an average rating of “Sell”.

3 E Network Technology Group Stock Up 1.8%

MASK stock traded up $0.08 during midday trading on Friday, hitting $4.21. The company’s stock had a trading volume of 18,112,477 shares, compared to its average volume of 4,190,775. 3 E Network Technology Group has a twelve month low of $1.18 and a twelve month high of $95.50. The company’s fifty day moving average price is $1.91 and its 200 day moving average price is $5.26.

3 E Network Technology Group (NASDAQ:MASK) last issued its quarterly earnings results on Wednesday, May 27th. The company reported ($0.18) earnings per share (EPS) for the quarter. The business had revenue of $1.86 million for the quarter.

About 3 E Network Technology Group

3 E Network Technology Group Ltd. operates as a holding company, which engages in the provision of business-to-business information technology business solutions. It offers business solutions to a variety of industries and sectors, including food establishments, real estate, exhibition and conferencing, and clean energy utilities. The company was founded on October 6, 2021 and is headquartered in Guangzhou, China.