ZW Data Action Technologies Inc. (NASDAQ:CNET) Stock Short Interest Declines 58.3%

ZW Data Action Technologies Inc. (NASDAQ:CNET) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 20,310 shares, a drop of 58.3% from the September 30th total of 48,711 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 28,097 shares, the short-interest ratio is presently 0.7 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of ZW Data Action Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

ZW Data Action Technologies Price Performance

Shares of NASDAQ CNET traded up $0.01 during trading on Friday, hitting $0.86. The company had a trading volume of 9,694 shares, compared to its average volume of 397,658. The business’s 50-day moving average is $1.37 and its 200 day moving average is $1.04. The company has a market cap of $3.16 million, a P/E ratio of -3.45 and a beta of 0.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.45 and a current ratio of 1.45. ZW Data Action Technologies has a 52 week low of $0.57 and a 52 week high of $2.87.

ZW Data Action Technologies (NASDAQ:CNET) last released its earnings results on Friday, August 14th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter. The business had revenue of $0.65 million during the quarter. ZW Data Action Technologies had a negative net margin of 23.98% and a negative return on equity of 20.22%.

About ZW Data Action Technologies

ZW Data Action Technologies Inc, formerly known as ChinaNet Online Holdings, Inc, is a China-based provider of internet marketing and data-driven business services. The company helps small and medium-sized enterprises promote their products and services through online advertising, digital marketing, lead generation, search-engine marketing and related brand-development activities.

Its offerings have included website development and operation, online advertising placement, marketing campaign management, customer-acquisition services and data analytics designed to help businesses identify and reach prospective customers.