Short Interest in Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) Grows By 131.2%

Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 10,729 shares, a growth of 131.2% from the May 31st total of 4,641 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 27,183 shares, the short-interest ratio is currently 0.4 days.

Network-1 Technologies Stock Performance

Shares of NTIP stock traded down $0.01 on Monday, hitting $1.49. The stock had a trading volume of 23,040 shares, compared to its average volume of 282,286. The stock’s 50 day moving average is $1.47 and its 200-day moving average is $1.42. The firm has a market capitalization of $34.06 million, a price-to-earnings ratio of -13.55 and a beta of 0.12. Network-1 Technologies has a 52-week low of $1.20 and a 52-week high of $1.90.

Network-1 Technologies (NYSEAMERICAN:NTIP) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Network-1 Technologies

A number of hedge funds have recently bought and sold shares of NTIP. Virtu Financial LLC purchased a new stake in Network-1 Technologies during the 3rd quarter worth approximately $25,000. Citadel Advisors LLC purchased a new position in shares of Network-1 Technologies during the 3rd quarter valued at approximately $34,000. Canton Hathaway LLC grew its position in shares of Network-1 Technologies by 311.1% during the first quarter. Canton Hathaway LLC now owns 280,738 shares of the company’s stock worth $404,000 after buying an additional 212,447 shares in the last quarter. Finally, Cannell Capital LLC grew its position in shares of Network-1 Technologies by 191.4% during the third quarter. Cannell Capital LLC now owns 1,070,123 shares of the company’s stock worth $1,605,000 after buying an additional 702,833 shares in the last quarter. Institutional investors and hedge funds 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.