Professional Diversity Network, Inc. (NASDAQ:IPDN) Sees Large Increase in Short Interest

Professional Diversity Network, Inc. (NASDAQ:IPDN) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 47,100 shares, a growth of 150.5% from the March 15th total of 18,800 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 50,400 shares, the days-to-cover ratio is currently 0.9 days.

Professional Diversity Network Stock Performance

Shares of IPDN stock opened at $1.81 on Friday. The stock has a 50 day moving average of $1.96 and a two-hundred day moving average of $1.98. Professional Diversity Network has a 12 month low of $1.15 and a 12 month high of $5.50. The company has a market capitalization of $20.72 million, a P/E ratio of -4.31 and a beta of 12.79.

Institutional Trading of Professional Diversity Network

A number of hedge funds have recently modified their holdings of IPDN. Geode Capital Management LLC lifted its position in shares of Professional Diversity Network by 13.3% during the 4th quarter. Geode Capital Management LLC now owns 39,674 shares of the information services provider’s stock worth $41,000 after buying an additional 4,646 shares during the period. BlackRock Inc. bought a new position in shares of Professional Diversity Network during the 2nd quarter worth approximately $67,000. State Street Corp lifted its position in shares of Professional Diversity Network by 40.4% during the 2nd quarter. State Street Corp now owns 23,285 shares of the information services provider’s stock worth $104,000 after buying an additional 6,700 shares during the period. Renaissance Technologies LLC bought a new position in shares of Professional Diversity Network during the 1st quarter worth approximately $136,000. Finally, Vanguard Group Inc. lifted its position in shares of Professional Diversity Network by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 145,365 shares of the information services provider’s stock worth $295,000 after buying an additional 17,734 shares during the period. Institutional investors own 27.75% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Professional Diversity Network in a research report on Thursday. They issued a “sell” rating for the company.

Professional Diversity Network Company Profile

Professional Diversity Network, Inc operates online professional networking communities with career resources in the United States. It operates in three segments: Professional Diversity Network (PDN Network), National Association of Professional Women (NAPW Network), and RemoteMore USA (RemoteMore). The company offers online professional job seeking communities that offers recruitment services, such as single and multiple job postings, recruitment media, talent recruitment communities, corporate memberships, hiring campaign marketing and advertising, e-newsletter marketing, and research and outreach services to various cultural groups and employers.