ZW Data Action Technologies Inc. (NASDAQ:CNET) experienced a significant increase in short interest during December 2023. As of December 15, short interest reached a total of 2,758 shares, marking a substantial rise of 37.1% compared to the 2,012 shares reported on November 30. Currently, about 0.1% of the company’s shares are short sold. With an average daily trading volume of 8,592 shares, the days-to-cover ratio stands at 0.3 days.
Institutional Investments and Analyst Ratings
Recent movements among institutional investors indicate growing interest in ZW Data Action Technologies. Notably, Citadel Advisors LLC acquired a new stake in the company during the third quarter, purchasing 36,837 shares valued at approximately $86,000. As of the latest filing with the Securities and Exchange Commission (SEC), Citadel Advisors holds 1.13% of the company’s stock.
On the analyst front, Weiss Ratings reaffirmed a “sell (d-)” rating for ZW Data Action Technologies in a report dated December 22. This sentiment is echoed by one other analyst, leading to an average rating of “sell” according to data from MarketBeat.com.
Stock Performance and Financial Overview
Shares of ZW Data Action Technologies opened at $1.23 on Tuesday, reflecting a 2.0% increase. Over the past year, the stock has fluctuated, reaching a low of $0.96 and a high of $2.78. The company maintains a current ratio of 1.41 and a quick ratio of 1.41, with a debt-to-equity ratio of 0.04. Its market capitalization is approximately $4.03 million, with a price-to-earnings (P/E) ratio of -1.67 and a beta of 0.67.
ZW Data Action Technologies reported its quarterly earnings on November 14, revealing earnings per share (EPS) of ($0.52) and quarterly revenue of $3.92 million. The company also reported a negative return on equity of 59.11% and a negative net margin of 33.25%.
Founded in China, ZW Data Action Technologies specializes in providing cloud-based software and digital solutions for the insurance industry. The company offers a comprehensive multi-tenant insurance platform aimed at improving policy administration, underwriting, claims processing, and distribution management. Its suite of Software as a Service (SaaS) products facilitates quick product launches for property and casualty carriers, life insurers, brokers, and agents. Additionally, ZW Data Action Technologies provides business process outsourcing services through a dedicated call center, handling customer support, policy issuance, and claims intake.
As interest and scrutiny grow, the future of ZW Data Action Technologies remains a focal point for investors and analysts alike.
