ZW Data Action Technologies Inc. (NASDAQ:CNET) Sees Significant Decline in Short Interest

ZW Data Action Technologies Inc. (NASDAQ:CNET) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totaling 24,280 shares, a decline of 76.1% from the June 30th total of 101,455 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 28,404 shares, the short-interest ratio is presently 0.9 days.

ZW Data Action Technologies Stock Performance

Shares of NASDAQ:CNET traded down $0.12 during trading on Friday, reaching $0.79. 5,650,732 shares of the company’s stock traded hands, compared to its average volume of 225,136. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.52 and a quick ratio of 1.52. The company has a 50 day moving average of $0.90 and a 200-day moving average of $0.89. The stock has a market capitalization of $2.91 million, a P/E ratio of -1.89 and a beta of 0.85. ZW Data Action Technologies has a 12 month low of $0.57 and a 12 month high of $2.78.

ZW Data Action Technologies (NASDAQ:CNET) last released its quarterly earnings data on Friday, May 15th. The business services provider reported $0.04 earnings per share (EPS) for the quarter. ZW Data Action Technologies had a negative return on equity of 28.28% and a negative net margin of 33.30%.The business had revenue of $0.38 million during the quarter.

Hedge Funds Weigh In On ZW Data Action Technologies

An institutional investor recently bought a new stake in ZW Data Action Technologies stock. Citadel Advisors LLC acquired a new stake in shares of ZW Data Action Technologies Inc. (NASDAQ:CNET) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 36,837 shares of the business services provider’s stock, valued at approximately $86,000. Citadel Advisors LLC owned 1.13% of ZW Data Action Technologies at the end of the most recent reporting period. Institutional investors own 0.01% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of ZW Data Action Technologies in a research report on Friday, May 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

About ZW Data Action Technologies

ZW Data Action Technologies, Inc provides cloud-based software and digital solutions for the insurance industry in China. Through its subsidiaries, the company offers a multi-tenant insurance platform designed to streamline policy administration, underwriting, claims processing and distribution management. Its core suite of SaaS products enables property and casualty carriers, life insurers, brokers and agents to launch new products quickly, automate routine processes and integrate data from third-party sources for enhanced decision-making.

Beyond its software offerings, ZW Data Action Technologies delivers business process outsourcing services via a dedicated call center that handles customer support, policy issuance, claims intake and other administrative functions.