Network-1 Technologies (NYSEAMERICAN:NTIP) Issues Earnings Results

Network-1 Technologies (NYSEAMERICAN:NTIP) posted its earnings results on Friday. The company reported ($0.02) earnings per share (EPS) for the quarter, FiscalAI reports.

Network-1 Technologies Stock Down 1.3%

Shares of NYSEAMERICAN:NTIP traded down $0.02 during trading on Friday, reaching $1.47. The stock had a trading volume of 107,728 shares, compared to its average volume of 1,533,876. Network-1 Technologies has a 52 week low of $1.16 and a 52 week high of $1.90. The firm has a market capitalization of $33.50 million, a price-to-earnings ratio of -13.36 and a beta of 0.12. The stock has a fifty day simple moving average of $1.46 and a two-hundred day simple moving average of $1.42.

Network-1 Technologies Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a dividend yield of 690.0%. Network-1 Technologies’s dividend payout ratio (DPR) is currently -166.67%.

Hedge Funds Weigh In On Network-1 Technologies

A number of institutional investors have recently modified their holdings of NTIP. Cannell Capital LLC raised its position in shares of Network-1 Technologies by 191.4% in the third quarter. Cannell Capital LLC now owns 1,070,123 shares of the company’s stock valued at $1,605,000 after purchasing an additional 702,833 shares during the period. Canton Hathaway LLC raised its position in shares of Network-1 Technologies by 311.1% in the first 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 position in shares of Network-1 Technologies in the third quarter valued at approximately $34,000. Northern Financial Advisors Inc bought a new position in shares of Network-1 Technologies in the third quarter valued at approximately $29,000. Finally, Virtu Financial LLC bought a new position in shares of Network-1 Technologies in the third quarter valued at approximately $25,000. Institutional investors own 29.07% of the company’s stock.

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.