Short Interest in 3 E Network Technology Group Ltd (NASDAQ:MASK) Decreases By 65.6%

3 E Network Technology Group Ltd (NASDAQ:MASK) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 179,874 shares, a drop of 65.6% from the June 15th total of 522,622 shares. Based on an average trading volume of 646,537 shares, the short-interest ratio is presently 0.3 days. Approximately 20.4% of the company’s shares are short sold.

3 E Network Technology Group Trading Down 6.9%

Shares of MASK traded down $0.12 during mid-day trading on Wednesday, reaching $1.62. 126,906 shares of the stock traded hands, compared to its average volume of 3,882,709. The stock has a fifty day simple moving average of $2.41 and a 200 day simple moving average of $3.64. 3 E Network Technology Group has a 12-month low of $1.19 and a 12-month high of $37.25.

3 E Network Technology Group (NASDAQ:MASK) last posted its earnings results on Wednesday, May 27th. The company reported ($0.19) EPS for the quarter. The firm had revenue of $1.86 million for the quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MASK shares. Weiss Ratings lowered shares of 3 E Network Technology Group from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 2nd. Wall Street Zen lowered 3 E Network Technology Group from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, 3 E Network Technology Group currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On 3 E Network Technology Group

A hedge fund recently bought a new position in 3 E Network Technology Group stock. L1 Global Manager Pty Ltd bought a new position in shares of 3 E Network Technology Group Ltd (NASDAQ:MASK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.