Short Interest in ZW Data Action Technologies Inc. (NASDAQ:CNET) Grows By 1,993.5%

ZW Data Action Technologies Inc. (NASDAQ:CNET) saw a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 189,778 shares, a growth of 1,993.5% from the January 29th total of 9,065 shares. Approximately 6.6% of the company’s stock are sold short. Based on an average daily volume of 2,228,376 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 2,228,376 shares, the short-interest ratio is currently 0.1 days. Approximately 6.6% of the company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ZW Data Action Technologies stock. Citadel Advisors LLC bought a new stake in ZW Data Action Technologies Inc. (NASDAQ:CNET) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 36,837 shares of the business services provider’s stock, valued at approximately $86,000. Citadel Advisors LLC owned 1.13% of ZW Data Action Technologies as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 0.01% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of ZW Data Action Technologies in a report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

ZW Data Action Technologies Trading Up 1.8%

NASDAQ CNET opened at $0.83 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.70 million, a P/E ratio of -1.12 and a beta of 0.88. ZW Data Action Technologies has a 52-week low of $0.60 and a 52-week high of $2.78. The firm has a 50-day moving average price of $1.13 and a 200 day moving average price of $1.56.

About ZW Data Action Technologies

ZW Data Action Technologies, Inc provides cloud-based software and digital solutions for the insurance industry in China. Through its subsidiaries, the company offers a multi-tenant insurance platform designed to streamline policy administration, underwriting, claims processing and distribution management. Its core suite of SaaS products enables property and casualty carriers, life insurers, brokers and agents to launch new products quickly, automate routine processes and integrate data from third-party sources for enhanced decision-making.

Beyond its software offerings, ZW Data Action Technologies delivers business process outsourcing services via a dedicated call center that handles customer support, policy issuance, claims intake and other administrative functions.