NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) Short Interest Update

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 62,022 shares, a growth of 108.9% from the May 31st total of 29,684 shares. Based on an average trading volume of 196,800 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the company’s shares are short sold.

NIP Group Stock Down 2.6%

Shares of NIPG stock traded down $0.01 during trading hours on Tuesday, hitting $0.26. 14,602 shares of the company were exchanged, compared to its average volume of 72,897. NIP Group has a 52 week low of $0.25 and a 52 week high of $2.75. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $0.49 and a two-hundred day moving average of $0.77.

NIP Group’s stock is set to reverse split on Monday, July 6th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, July 5th.

NIP Group (NASDAQ:NIPG) last announced its earnings results on Friday, May 1st. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.01. The company had revenue of $32.68 million during the quarter, compared to analyst estimates of $55.00 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of NIP Group in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

About NIP Group

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.