Network-1 Technologies (NYSEAMERICAN:NTIP) Trading 1.5% Higher – Here’s Why

Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) shares traded up 1.5% during mid-day trading on Thursday . The company traded as high as $1.40 and last traded at $1.35. 60,006 shares changed hands during mid-day trading, an increase of 474% from the average session volume of 10,456 shares. The stock had previously closed at $1.33.

Network-1 Technologies Price Performance

The firm has a 50-day simple moving average of $1.46 and a 200 day simple moving average of $1.43. The stock has a market capitalization of $30.81 million, a P/E ratio of -12.27 and a beta of 0.21.

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

Hedge Funds Weigh In On Network-1 Technologies

A number of hedge funds have recently modified their holdings of the business. Clayton Partners LLC lifted its holdings in shares of Network-1 Technologies by 1.4% in the 1st quarter. Clayton Partners LLC now owns 1,230,020 shares of the company’s stock worth $1,599,000 after purchasing an additional 16,865 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Network-1 Technologies during the third quarter valued at about $34,000. Cannell Capital LLC lifted its position in Network-1 Technologies by 191.4% in the 3rd quarter. Cannell Capital LLC now owns 1,070,123 shares of the company’s stock valued at $1,605,000 after acquiring an additional 702,833 shares in the last quarter. Virtu Financial LLC bought a new position in Network-1 Technologies in the 3rd quarter valued at about $25,000. Finally, Northern Financial Advisors Inc bought a new stake in Network-1 Technologies during the 3rd quarter worth approximately $29,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

Network-1 Technologies Company Profile

Network-1 Technologies, Inc engages in the development, licensing, and protection of intellectual property assets. The company owns 100 patents, including the Cox patent portfolio related to enabling technology for identifying media content on the Internet; M2M/IoT patent portfolio related to enabling technology for authenticating, provisioning, and using embedded sim technology in IoT, machine-to-machine, and other mobile devices, such as smartphones, tablets, and computers, as well as automobiles; and HFT patent portfolio covering technologies related to high frequency trading that addresses technological problems associated with speed and latency, and provide critical latency gains in trading systems.