Short Interest in 3 E Network Technology Group Ltd (NASDAQ:MASK) Decreases By 65.6%

3 E Network Technology Group Ltd (NASDAQ:MASK) was the target of a large drop in short interest in June. As of June 30th, there was short interest totaling 179,874 shares, a drop of 65.6% from the June 15th total of 522,622 shares. Based on an average trading volume of 646,537 shares, the short-interest ratio is presently 0.3 days. Approximately 20.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in 3 E Network Technology Group stock. L1 Global Manager Pty Ltd acquired a new stake in 3 E Network Technology Group Ltd (NASDAQ:MASK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,248,611 shares of the company’s stock, valued at approximately $300,000. L1 Global Manager Pty Ltd owned 5.38% of 3 E Network Technology Group at the end of the most recent quarter.

3 E Network Technology Group Price Performance

Shares of NASDAQ:MASK opened at $1.85 on Monday. The stock’s 50-day moving average is $2.41 and its 200-day moving average is $3.69. 3 E Network Technology Group has a 52-week low of $1.19 and a 52-week high of $54.38.

3 E Network Technology Group (NASDAQ:MASK) last posted its quarterly earnings data on Wednesday, May 27th. The company reported ($0.18) earnings per share for the quarter. The company had revenue of $1.86 million during the quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on MASK. Wall Street Zen lowered 3 E Network Technology Group from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Weiss Ratings downgraded 3 E Network Technology Group from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

About 3 E Network Technology Group

3 E Network Technology Group Ltd. operates as a holding company, which engages in the provision of business-to-business information technology business solutions. It offers business solutions to a variety of industries and sectors, including food establishments, real estate, exhibition and conferencing, and clean energy utilities. The company was founded on October 6, 2021 and is headquartered in Guangzhou, China.