Cannell Capital LLC Invests $1.87 Million in Network-1 Technologies, Inc. $NTIP

Cannell Capital LLC purchased a new position in shares of Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,275,213 shares of the company’s stock, valued at approximately $1,874,563. Network-1 Technologies comprises about 0.0% of Cannell Capital LLC’s investment portfolio, making the stock its 24th largest holding. Cannell Capital LLC owned approximately 0.06% of Network-1 Technologies as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in shares of Network-1 Technologies during the second quarter valued at $143,000. BlackRock Inc. bought a new position in Network-1 Technologies during the 2nd quarter worth about $73,000. Canton Hathaway LLC increased its position in Network-1 Technologies by 311.1% during the 1st quarter. Canton Hathaway LLC now owns 280,738 shares of the company’s stock valued at $404,000 after purchasing an additional 212,447 shares during the period. Citadel Advisors LLC bought a new stake in shares of Network-1 Technologies in the 3rd quarter valued at about $34,000. Finally, Virtu Financial LLC purchased a new stake in shares of Network-1 Technologies in the 3rd quarter worth approximately $25,000. 29.07% of the stock is owned by institutional investors and hedge funds.

Network-1 Technologies Stock Performance

NYSEAMERICAN NTIP opened at $1.56 on Friday. The company has a market cap of $35.66 million, a PE ratio of -13.00 and a beta of 0.12. The firm’s 50 day moving average price is $1.53 and its 200-day moving average price is $1.49. Network-1 Technologies, Inc. has a 52-week low of $1.24 and a 52-week high of $1.90.

Network-1 Technologies (NYSEAMERICAN:NTIP) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter.

About Network-1 Technologies

Network-1 Technologies is a technology licensing company that focuses on the acquisition, development and monetization of intellectual property. The firm’s core business revolves around enforcing and licensing its patent portfolio to manufacturers and distributors of networking and power delivery equipment. By leveraging its proprietary technologies, Network-1 seeks to generate recurring revenue through negotiated licensing agreements and, when necessary, litigation to protect its patents.

The company’s principal assets consist of granted patents and patent applications related to Power over Ethernet (PoE) and network security technologies.