Cannell Capital LLC Buys 702,833 Shares of Network-1 Technologies, Inc. $NTIP

Cannell Capital LLC boosted its stake in shares of Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) by 191.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,070,123 shares of the company’s stock after buying an additional 702,833 shares during the quarter. Cannell Capital LLC’s holdings in Network-1 Technologies were worth $1,605,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Virtu Financial LLC bought a new stake in Network-1 Technologies in the third quarter valued at approximately $25,000. Northern Financial Advisors Inc purchased a new stake in shares of Network-1 Technologies during the third quarter valued at approximately $29,000. Finally, Canton Hathaway LLC grew its holdings in shares of Network-1 Technologies by 31.6% in the third quarter. Canton Hathaway LLC now owns 68,291 shares of the company’s stock worth $102,000 after purchasing an additional 16,400 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors.

Network-1 Technologies Stock Performance

Shares of Network-1 Technologies stock opened at $1.49 on Friday. Network-1 Technologies, Inc. has a 52-week low of $1.16 and a 52-week high of $1.90. The company’s 50 day moving average price is $1.38 and its 200-day moving average price is $1.44. The stock has a market capitalization of $34.00 million, a price-to-earnings ratio of -13.55 and a beta of 0.13.

Network-1 Technologies (NYSEAMERICAN:NTIP) last posted its quarterly earnings results on Friday, March 13th. The company reported ($0.05) EPS for the quarter.

Network-1 Technologies Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a dividend of $0.05 per share. This represents a dividend yield of 675.0%. The ex-dividend date of this dividend is Monday, March 16th. Network-1 Technologies’s dividend payout ratio is -166.67%.

Network-1 Technologies Company Profile

Network-1 Technologies is a technology licensing company that focuses on the acquisition, development and monetization of intellectual property. The firm’s core business revolves around enforcing and licensing its patent portfolio to manufacturers and distributors of networking and power delivery equipment. By leveraging its proprietary technologies, Network-1 seeks to generate recurring revenue through negotiated licensing agreements and, when necessary, litigation to protect its patents.

The company’s principal assets consist of granted patents and patent applications related to Power over Ethernet (PoE) and network security technologies.