NIP Group (NASDAQ:NIPG) Stock Price Down 1.7% - Here's Why

Key Points

• NIP Group's stock price fell by 1.7%, ending the day at $1.72, with trading volume significantly down at 39,159 shares compared to the average of 82,825 shares.
• Analysts have mixed sentiments, with Wall Street Zen upgrading the stock to a "hold" while Maxim Group cut its target price from $12 to $6 but maintained a "buy" rating.
• A hedge fund, Quadrature Capital Ltd, made a new investment in NIP Group, purchasing 11,782 shares valued at approximately $29,000 in the second quarter.

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG - Get Free Report)'s share price dropped 1.7% during mid-day trading on Thursday . The company traded as low as $1.70 and last traded at $1.72. Approximately 39,159 shares traded hands during trading, a decline of 53% from the average daily volume of 82,825 shares. The stock had previously closed at $1.75.

Analyst Ratings Changes

NIPG has been the subject of a number of analyst reports. Wall Street Zen raised shares of NIP Group to a "hold" rating in a research note on Saturday, July 5th. Maxim Group reduced their target price on shares of NIP Group from $12.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, May 20th.

NIP Group Stock Performance

The business's 50 day simple moving average is $1.94 and its 200-day simple moving average is $1.99.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in NIP Group stock. Quadrature Capital Ltd purchased a new position in NIP Group Inc. Sponsored ADR (NASDAQ:NIPG - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 11,782 shares of the company's stock, valued at approximately $29,000.

NIP Group Company Profile

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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