NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) Sees Significant Increase in Short Interest

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totaling 138,267 shares, a growth of 494.5% from the December 31st total of 23,258 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 61,168 shares, the days-to-cover ratio is currently 2.3 days. Based on an average daily volume of 61,168 shares, the days-to-cover ratio is currently 2.3 days. Currently, 0.2% of the company’s shares are short sold.

Analyst Ratings Changes

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

NIP Group Price Performance

NIP Group stock opened at $1.09 on Wednesday. The business has a 50 day moving average price of $1.18 and a two-hundred day moving average price of $1.59. NIP Group has a 12 month low of $0.96 and a 12 month high of $5.44.

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

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) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,782 shares of the company’s stock, valued at approximately $29,000.

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.