Short Interest in ZW Data Action Technologies Inc. (NASDAQ:CNET) Declines By 59.3%

ZW Data Action Technologies Inc. (NASDAQ:CNET) was the recipient of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 77,255 shares, a drop of 59.3% from the February 12th total of 189,778 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily trading volume, of 40,763 shares, the days-to-cover ratio is presently 1.9 days. Based on an average daily trading volume, of 40,763 shares, the days-to-cover ratio is presently 1.9 days. Approximately 2.7% of the shares of the company are sold short.

ZW Data Action Technologies Trading Up 0.1%

NASDAQ:CNET opened at $0.77 on Wednesday. ZW Data Action Technologies has a 12-month low of $0.60 and a 12-month high of $2.78. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $1.05 and its 200-day simple moving average is $1.52. The firm has a market cap of $2.53 million, a P/E ratio of -1.05 and a beta of 0.88.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of ZW Data Action Technologies in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On ZW Data Action Technologies

An institutional investor recently bought a new position in ZW Data Action Technologies stock. Citadel Advisors LLC purchased a new stake in ZW Data Action Technologies Inc. (NASDAQ:CNET) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.01% of the company’s stock.

ZW Data Action Technologies Company Profile

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.