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

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) saw a large growth in short interest in February. As of February 13th, there was short interest totaling 166,197 shares, a growth of 31.6% from the January 29th total of 126,277 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 39,509 shares, the short-interest ratio is currently 4.2 days. Based on an average daily volume of 39,509 shares, the short-interest ratio is currently 4.2 days. Approximately 0.3% of the shares of the stock are sold short.

Analyst Ratings Changes

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

Institutional Trading of NIP Group

An institutional investor recently bought a new position in NIP Group stock. Quadrature Capital Ltd purchased a new stake in NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 11,782 shares of the company’s stock, valued at approximately $29,000.

NIP Group Price Performance

NIPG stock traded down $0.12 on Tuesday, reaching $0.82. The company had a trading volume of 13,769 shares, compared to its average volume of 34,423. NIP Group has a 1 year low of $0.75 and a 1 year high of $3.00. The company’s fifty day moving average is $1.00 and its 200 day moving average is $1.40.

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

About NIP Group

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.