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

Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) saw a significant drop in short interest in May. As of May 29th, there was short interest totaling 4,641 shares, a drop of 61.0% from the May 14th total of 11,911 shares. Based on an average daily trading volume, of 34,464 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are short sold.

Network-1 Technologies Stock Down 0.7%

Shares of NYSEAMERICAN:NTIP traded down $0.01 during trading on Friday, reaching $1.49. The stock had a trading volume of 60,220 shares, compared to its average volume of 27,847. Network-1 Technologies has a 52 week low of $1.16 and a 52 week high of $1.90. The firm has a market capitalization of $34.06 million, a price-to-earnings ratio of -13.55 and a beta of 0.13. The stock has a fifty day simple moving average of $1.47 and a two-hundred day simple moving average of $1.42.

Network-1 Technologies (NYSEAMERICAN:NTIP) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.02) EPS for the quarter.

Hedge Funds Weigh In On Network-1 Technologies

Institutional investors have recently modified their holdings of the company. Cannell Capital LLC increased its stake in shares of 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 period. Northern Financial Advisors Inc bought a new position in shares of Network-1 Technologies in the third quarter worth about $29,000. Virtu Financial LLC bought a new position in shares of Network-1 Technologies in the third quarter worth about $25,000. Citadel Advisors LLC bought a new position in shares of Network-1 Technologies in the third quarter worth about $34,000. Finally, Canton Hathaway LLC increased its stake in shares of Network-1 Technologies by 311.1% in the first quarter. Canton Hathaway LLC now owns 280,738 shares of the company’s stock worth $404,000 after purchasing an additional 212,447 shares during the period. 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.