Cannell Capital LLC Raises Stake in Network-1 Technologies, Inc. $NTIP

Cannell Capital LLC boosted its stake in Network-1 Technologies, Inc. (NYSEAMERICAN:NTIP) by 191.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,070,123 shares of the company’s stock after purchasing an additional 702,833 shares during the quarter. Cannell Capital LLC owned approximately 4.70% of Network-1 Technologies worth $1,605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Canton Hathaway LLC increased its position in shares of Network-1 Technologies by 31.6% during the third quarter. Canton Hathaway LLC now owns 68,291 shares of the company’s stock valued at $102,000 after buying an additional 16,400 shares during the period. Virtu Financial LLC bought a new position in shares of Network-1 Technologies in the third quarter valued at approximately $25,000. Finally, Northern Financial Advisors Inc purchased a new position in Network-1 Technologies during the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Network-1 Technologies Stock Performance

Network-1 Technologies stock opened at $1.49 on Friday. The firm’s 50 day simple moving average is $1.38 and its 200 day simple moving average is $1.44. The firm has a market capitalization of $34.00 million, a PE ratio of -13.55 and a beta of 0.13. Network-1 Technologies, Inc. has a 1-year low of $1.16 and a 1-year high of $1.90.

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

Network-1 Technologies Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a $0.05 dividend. This represents a dividend yield of 675.0%. The ex-dividend date is Monday, March 16th. Network-1 Technologies’s dividend payout ratio (DPR) is -166.67%.

About Network-1 Technologies

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.