Short Interest in Intelligent Protection Management Corp. (NASDAQ:IPM) Decreases By 41.6%

Intelligent Protection Management Corp. (NASDAQ:IPM) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 41,253 shares, a drop of 41.6% from the May 31st total of 70,643 shares. Based on an average daily volume of 37,487 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.6% of the company’s shares are sold short.

Intelligent Protection Management Price Performance

NASDAQ IPM traded up $0.00 on Thursday, hitting $1.74. 11,218 shares of the stock were exchanged, compared to its average volume of 73,437. The company’s 50-day moving average price is $1.84 and its two-hundred day moving average price is $1.77. Intelligent Protection Management has a 52-week low of $1.46 and a 52-week high of $2.88. The company has a market capitalization of $15.76 million, a price-to-earnings ratio of -6.54 and a beta of 0.45.

Intelligent Protection Management (NASDAQ:IPM) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter. The business had revenue of $6.35 million for the quarter. Intelligent Protection Management had a negative net margin of 14.01% and a negative return on equity of 18.44%.

Insiders Place Their Bets

In related news, major shareholder Adam Katz 2012 Revocable Trust acquired 21,512 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were purchased at an average price of $1.80 per share, for a total transaction of $38,721.60. Following the acquisition, the insider owned 958,540 shares in the company, valued at approximately $1,725,372. This represents a 2.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders bought 77,972 shares of company stock valued at $142,585. Company insiders own 20.80% of the company’s stock.

Hedge Funds Weigh In On Intelligent Protection Management

Large investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of Intelligent Protection Management during the third quarter worth approximately $43,000. Renaissance Technologies LLC increased its stake in Intelligent Protection Management by 50.1% in the 4th quarter. Renaissance Technologies LLC now owns 55,100 shares of the company’s stock valued at $95,000 after buying an additional 18,400 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Intelligent Protection Management in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 3.88% of the company’s stock.

About Intelligent Protection Management

Intelligent Protection Management Corp. engages in the development of communications software to enhance security and privacy solutions for multimedia communication and data transmission. Its solutions include blockchain strategy consulting, blockchain implementation, white label video solutions, and technology licensing. The firm’s product portfolio includes Paltalk and Camfrog. The company was founded by Clifford Lerner and Darrell Lerner on July 19, 2005 and is headquartered in Jericho, NY.