NIP Group (NASDAQ:NIPG) Shares Up 1.2% - Time to Buy?

Key Points

• NIP Group's shares increased by 1.2% to approximately $1.75, with a volume of 61,307 shares traded, significantly down from its average.
• Wall Street analysts have a consensus rating of "Buy" for NIP Group, with a price target of $6.00.
• A hedge fund, XTX Topco Ltd, recently acquired a new stake in NIP Group, purchasing 24,542 shares valued at around $40,000.

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG - Get Free Report) shares shot up 1.2% during trading on Wednesday . The company traded as high as $1.80 and last traded at $1.75. 61,307 shares were traded during trading, a decline of 41% from the average session volume of 103,252 shares. The stock had previously closed at $1.73.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of NIP Group to a "hold" rating in a research report on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $6.00.

NIP Group Trading Up 1.2%

The stock's 50-day moving average price is $1.88 and its 200-day moving average price is $1.80.

Hedge Funds Weigh In On NIP Group

A hedge fund recently bought a new stake in NIP Group stock. XTX Topco Ltd purchased a new stake in NIP Group Inc. Sponsored ADR (NASDAQ:NIPG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,542 shares of the company's stock, valued at approximately $40,000.

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.

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