NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) Short Interest Update

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totaling 62,022 shares, a growth of 108.9% from the May 31st total of 29,684 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 196,800 shares, the days-to-cover ratio is currently 0.3 days.

NIP Group Stock Down 2.0%

NIPG stock opened at $0.25 on Thursday. NIP Group has a 1-year low of $0.25 and a 1-year high of $2.56. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $0.47 and its 200-day moving average is $0.76.

NIP Group shares are scheduled to reverse split on Monday, July 6th. The 1-30 reverse split was announced on Wednesday, July 1st. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, July 5th.

NIP Group (NASDAQ:NIPG) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.92 EPS for the quarter, beating the consensus estimate of ($0.09) by $1.01. The company had revenue of $32.68 million during the quarter, compared to analyst estimates of $55.00 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of NIP Group in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, NIP Group has a consensus rating of “Sell”.

About NIP Group

Our mission is to create transformative esports experiences that entertain, inspire and connect fans across the globe. Our vision is to become the premier esports organization in the world. We are a leading esports organization with the most expansive global footprint by virtue of our operations across Asia, Europe and South America, according to the Frost & Sullivan Report. Among the top ten esports titles in the world in terms of prize pool, our wins in tier-1 world tournaments in CS:GO, Honor of Kings, Rainbow Six and FIFA represent more unique game titles with top-tier wins than any other esports organization as of January 31, 2023, according to the Frost & Sullivan Report.