Short Interest in 3 E Network Technology Group Ltd (NASDAQ:MASK) Declines By 72.2%

3 E Network Technology Group Ltd (NASDAQ:MASK) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 522,622 shares, a decline of 72.2% from the May 31st total of 1,881,290 shares. Approximately 59.4% of the company’s shares are sold short. Based on an average daily trading volume, of 6,760,714 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings cut 3 E Network Technology Group from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 2nd. Wall Street Zen cut 3 E Network Technology Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in 3 E Network Technology Group stock. L1 Global Manager Pty Ltd acquired a new position in 3 E Network Technology Group Ltd (NASDAQ:MASK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,248,611 shares of the company’s stock, valued at approximately $300,000. L1 Global Manager Pty Ltd owned 5.38% of 3 E Network Technology Group as of its most recent filing with the Securities & Exchange Commission.

3 E Network Technology Group Stock Up 1.5%

Shares of MASK stock traded up $0.03 during midday trading on Monday, reaching $2.00. 147,615 shares of the stock were exchanged, compared to its average volume of 4,201,351. 3 E Network Technology Group has a 1 year low of $1.19 and a 1 year high of $62.77. The company’s 50 day moving average is $2.35 and its two-hundred day moving average is $4.08.

3 E Network Technology Group (NASDAQ:MASK) last released its earnings results on Wednesday, May 27th. The company reported ($0.18) EPS for the quarter. The firm had revenue of $1.86 million during the quarter.

About 3 E Network Technology Group

3 E Network Technology Group Ltd. operates as a holding company, which engages in the provision of business-to-business information technology business solutions. It offers business solutions to a variety of industries and sectors, including food establishments, real estate, exhibition and conferencing, and clean energy utilities. The company was founded on October 6, 2021 and is headquartered in Guangzhou, China.