NIP Group (NASDAQ:NIPG) Trading 1.5% Higher – Should You Buy?

Shares of NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) traded up 1.5% on Tuesday . The stock traded as high as $2.25 and last traded at $1.99. 587,271 shares traded hands during trading, an increase of 638% from the average session volume of 79,572 shares. The stock had previously closed at $1.96.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Maxim Group reduced their target price on NIP Group from $12.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, May 20th. Wall Street Zen raised NIP Group to a “hold” rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $6.00.

NIP Group Stock Up 1.5%

The company has a 50 day moving average of $2.02 and a 200 day moving average of $1.81.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in NIP Group stock. Quadrature Capital Ltd acquired a new stake in NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,782 shares of the company’s stock, valued at approximately $29,000.

NIP Group Company Profile

Our mission is to create transformative esports experiences that entertain, inspire and connect fans across the globe. Our vision is to become the premier esports organization in the world. We are a leading esports organization with the most expansive global footprint by virtue of our operations across Asia, Europe and South America, according to the Frost & Sullivan Report.