ZW Data Action Technologies Inc. (NASDAQ:CNET) Short Interest Down 56.5% in August

ZW Data Action Technologies Inc. (NASDAQ:CNET) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 62,855 shares, a drop of 56.5% from the July 30th total of 144,612 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 30,885 shares, the short-interest ratio is presently 2.0 days.

Institutional Investors Weigh In On ZW Data Action Technologies

An institutional investor recently bought a new stake in ZW Data Action Technologies stock. Citadel Advisors LLC purchased a new stake in shares of ZW Data Action Technologies Inc. (NASDAQ:CNET) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 36,837 shares of the business services provider’s stock, valued at approximately $86,000. Citadel Advisors LLC owned about 1.13% of ZW Data Action Technologies as of its most recent filing with the SEC. 0.01% of the stock is currently owned by institutional investors and hedge funds.

ZW Data Action Technologies Stock Down 4.1%

NASDAQ CNET traded down $0.06 during mid-day trading on Friday, hitting $1.39. The company’s stock had a trading volume of 14,723 shares, compared to its average volume of 108,442. The company’s 50 day simple moving average is $1.20 and its 200 day simple moving average is $0.92. ZW Data Action Technologies has a twelve month low of $0.57 and a twelve month high of $2.78. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $5.10 million, a price-to-earnings ratio of -5.56 and a beta of 0.84.

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

Analyst Ratings Changes

Separately, Weiss Ratings raised ZW Data Action Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, ZW Data Action Technologies 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.