Short Interest in NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) Increases By 31.6%

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 166,197 shares, an increase of 31.6% from the January 29th total of 126,277 shares. Based on an average daily volume of 39,509 shares, the days-to-cover ratio is presently 4.2 days. Approximately 0.3% of the company’s stock are sold short. Approximately 0.3% of the company’s stock are sold short. Based on an average daily volume of 39,509 shares, the days-to-cover ratio is presently 4.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of NIP Group in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.00.

Institutional Trading of NIP Group

A hedge fund recently bought a new stake in NIP Group stock. Quadrature Capital Ltd bought a new stake in NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,782 shares of the company’s stock, valued at approximately $29,000.

NIP Group Stock Performance

NIPG traded up $0.01 during trading on Wednesday, reaching $0.83. 7,498 shares of the company’s stock were exchanged, compared to its average volume of 40,233. NIP Group has a 1 year low of $0.75 and a 1 year high of $3.00. The company’s fifty day simple moving average is $0.99 and its 200-day simple moving average is $1.39.

NIP Group (NASDAQ:NIPG) last released its quarterly earnings data on Tuesday, December 2nd. The company reported ($0.88) earnings per share for the quarter. The firm had revenue of $30.58 million for the quarter.

NIP Group Company Profile

Our mission is to create transformative esports experiences that entertain, inspire and connect fans across the globe. Our vision is to become the premier esports organization in the world. We are a leading esports organization with the most expansive global footprint by virtue of our operations across Asia, Europe and South America, according to the Frost & Sullivan Report. Among the top ten esports titles in the world in terms of prize pool, our wins in tier-1 world tournaments in CS:GO, Honor of Kings, Rainbow Six and FIFA represent more unique game titles with top-tier wins than any other esports organization as of January 31, 2023, according to the Frost & Sullivan Report.