NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) Sees Large Growth in Short Interest

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 11,817 shares, a growth of 60.7% from the August 15th total of 7,353 shares. Based on an average daily volume of 68,333 shares, the short-interest ratio is currently 0.2 days. Currently, 0.6% of the shares of the stock are short sold.

NIP Group Stock Down 5.2%

Shares of NASDAQ:NIPG traded down $0.70 during midday trading on Thursday, reaching $12.85. The company’s stock had a trading volume of 28,670 shares, compared to its average volume of 15,359. NIP Group has a fifty-two week low of $4.20 and a fifty-two week high of $57.60. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average price of $11.44 and a two-hundred day moving average price of $15.25.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of NIP Group in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from 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.