Network-1 Technologies (NYSEAMERICAN:NTIP) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $1.51 and traded as high as $1.62. Network-1 Technologies shares last traded at $1.62, with a volume of 23,598 shares traded.

Network-1 Technologies Stock Up 1.3%

The business’s 50-day simple moving average is $1.51 and its two-hundred day simple moving average is $1.46. The firm has a market capitalization of $37.03 million, a price-to-earnings ratio of -14.73 and a beta of 0.12.

Network-1 Technologies (NYSEAMERICAN:NTIP) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) EPS for the quarter.

Hedge Funds Weigh In On Network-1 Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Canton Hathaway LLC raised its stake in Network-1 Technologies by 311.1% in the first quarter. Canton Hathaway LLC now owns 280,738 shares of the company’s stock valued at $404,000 after buying an additional 212,447 shares in the last quarter. Citadel Advisors LLC acquired a new stake in Network-1 Technologies during the 3rd quarter worth $34,000. Finally, Virtu Financial LLC acquired a new stake in Network-1 Technologies during the 3rd quarter worth $25,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

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.