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

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) was the recipient of a large increase in short interest in May. As of May 29th, there was short interest totaling 29,684 shares, an increase of 157.5% from the May 14th total of 11,530 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 72,174 shares, the short-interest ratio is presently 0.4 days.

NIP Group Stock Down 8.4%

NASDAQ:NIPG traded down $0.04 during mid-day trading on Friday, hitting $0.44. 267,408 shares of the company’s stock traded hands, compared to its average volume of 124,606. The company has a fifty day moving average of $0.58 and a 200 day moving average of $0.86. NIP Group has a twelve month low of $0.37 and a twelve month high of $2.75. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.01.

NIP Group (NASDAQ:NIPG) last announced its earnings results on Friday, May 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.01. The business had revenue of $32.68 million for the quarter, compared to analyst estimates of $55.00 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of NIP Group in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

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.