NetEase Inc. (NTES) Sees Significant Drop in Short Interest
NetEase Inc. (NASDAQ:NTES) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 865,703 shares, a decline of 34.3% from the October 31st total of 1,316,763 shares. Based on an average daily volume of 1,882,830 shares, the days-to-cover ratio is currently 0.5 days.
Several equities analysts have weighed in on NTES shares. Vetr lowered shares of NetEase from a “sell” rating to a “strong sell” rating and set a $210.98 target price on the stock. in a report on Monday, September 19th. Jefferies Group reiterated a “hold” rating and issued a $245.00 target price on shares of NetEase in a report on Thursday, November 10th. Brean Capital reissued a “buy” rating on shares of NetEase in a research note on Tuesday, August 2nd. Credit Suisse Group AG assumed coverage on shares of NetEase in a research note on Friday, August 19th. They issued a “neutral” rating and a $230.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of NetEase from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $257.61.
Several large investors have recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new stake in NetEase during the third quarter valued at about $110,000. Nippon Life Insurance Co. boosted its stake in NetEase by 8.9% in the third quarter. Nippon Life Insurance Co. now owns 783 shares of the company’s stock valued at $189,000 after buying an additional 64 shares in the last quarter. AXA boosted its stake in NetEase by 60.0% in the second quarter. AXA now owns 800 shares of the company’s stock valued at $155,000 after buying an additional 300 shares in the last quarter. GRATRY & Co LLC purchased a new stake in NetEase during the third quarter valued at about $203,000. Finally, Roberts Glore & Co. Inc. IL purchased a new stake in NetEase during the third quarter valued at about $229,000. 55.88% of the stock is currently owned by institutional investors.
NetEase (NASDAQ:NTES) opened at 230.04 on Wednesday. The firm’s 50-day moving average is $0.00 and its 200 day moving average is $0.00. NetEase has a 12-month low of $129.60 and a 12-month high of $272.58.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 25th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $3.12 annualized dividend and a dividend yield of 1.36%. NetEase’s dividend payout ratio is currently 25.15%.
NetEase Company Profile
NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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