Network-1 Technologies (NYSEAMERICAN:NTIP) Stock Crosses Below 50 Day Moving Average – What’s Next?

Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP)’s stock price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.34 and traded as low as $1.27. Network-1 Technologies shares last traded at $1.27, with a volume of 40,296 shares changing hands.

Network-1 Technologies Stock Down 3.1%

The company’s 50 day simple moving average is $1.34 and its 200-day simple moving average is $1.44. The firm has a market cap of $28.98 million, a P/E ratio of -11.55 and a beta of 0.15.

Network-1 Technologies (NYSEAMERICAN:NTIP) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.02) earnings per share for the quarter.

Hedge Funds Weigh In On Network-1 Technologies

Institutional investors have recently modified their holdings of the stock. Cannell Capital LLC boosted its holdings in shares of Network-1 Technologies by 191.4% in the third quarter. Cannell Capital LLC now owns 1,070,123 shares of the company’s stock valued at $1,605,000 after purchasing an additional 702,833 shares during the period. Canton Hathaway LLC grew its position in shares of Network-1 Technologies by 31.6% during the 3rd quarter. Canton Hathaway LLC now owns 68,291 shares of the company’s stock worth $102,000 after buying an additional 16,400 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Network-1 Technologies during the third quarter valued at $34,000. Northern Financial Advisors Inc bought a new stake in shares of Network-1 Technologies in the third quarter valued at about $29,000. Finally, Virtu Financial LLC purchased a new stake in Network-1 Technologies in the third quarter worth about $25,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

Network-1 Technologies Company Profile

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.