NewGenIvf Group Limited (NASDAQ:NIVF) Sees Significant Growth in Short Interest

NewGenIvf Group Limited (NASDAQ:NIVF) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 70,041 shares, an increase of 324.1% from the September 15th total of 16,516 shares. Approximately 4.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 84,296,451 shares, the days-to-cover ratio is currently 0.0 days.

NewGenIvf Group Stock Down 18.1%

NASDAQ NIVF traded down $0.05 during trading hours on Monday, reaching $0.24. The company’s stock had a trading volume of 6,875,329 shares, compared to its average volume of 2,083,198. The firm has a fifty day simple moving average of $1.07 and a 200-day simple moving average of $6.82. NewGenIvf Group has a 52 week low of $0.21 and a 52 week high of $6,156.00.

NewGenIvf Group (NASDAQ:NIVF) last posted its earnings results on Wednesday, October 7th. The company reported ($53.28) EPS for the quarter, missing the consensus estimate of $72.72 by ($126.00). The company had revenue of $0.96 million for the quarter, compared to analyst estimates of $20.10 million. On average, research analysts forecast that NewGenIvf Group will post 42.67 EPS for the current year.

Wall Street Analyst Weigh In

NIVF has been the topic of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of NewGenIvf Group in a research report on Friday, July 24th. Wall Street Zen raised NewGenIvf Group to a “hold” rating in a report on Saturday, July 4th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, NewGenIvf Group presently has an average rating of “Sell”.

Insider Activity

In related news, Director Kong Yiu Cheung purchased 625,000 shares of the stock in a transaction dated Monday, July 27th. The stock was bought at an average cost of $4.00 per share, for a total transaction of $2,500,000.00. Following the completion of the acquisition, the director owned 930,555 shares of the company’s stock, valued at approximately $3,722,220. This represents a 204.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 31.80% of the company’s stock.

About NewGenIvf Group

NewGenIvf Group Limited is a reproductive-healthcare company focused on fertility treatment and assisted reproductive technology. Through its operating businesses, the company provides services intended to help individuals and couples pursue pregnancy, including in vitro fertilization (IVF) and related fertility-care procedures.

Its services may include fertility consultations, laboratory-based embryo procedures, intracytoplasmic sperm injection (ICSI), embryo transfer, fertility preservation, and genetic testing or screening associated with assisted reproduction.