NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) Short Interest Up 494.5% in January

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 138,267 shares, a growth of 494.5% from the December 31st total of 23,258 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 61,168 shares, the days-to-cover ratio is presently 2.3 days. Based on an average daily volume of 61,168 shares, the days-to-cover ratio is presently 2.3 days. Currently, 0.2% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of NIP Group in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.00.

Institutional Trading of NIP Group

An institutional investor recently bought a new position in NIP Group stock. Quadrature Capital Ltd purchased a new position in NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,782 shares of the company’s stock, valued at approximately $29,000.

NIP Group Price Performance

Shares of NIPG opened at $1.09 on Wednesday. NIP Group has a one year low of $0.96 and a one year high of $5.44. The stock’s fifty day moving average is $1.18 and its 200-day moving average is $1.59.

NIP Group (NASDAQ:NIPG) last released its earnings results on Tuesday, December 2nd. The company reported ($0.88) EPS for the quarter. The business had revenue of $30.58 million for the quarter.

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. Among the top ten esports titles in the world in terms of prize pool, our wins in tier-1 world tournaments in CS:GO, Honor of Kings, Rainbow Six and FIFA represent more unique game titles with top-tier wins than any other esports organization as of January 31, 2023, according to the Frost & Sullivan Report.