NIP Group (NASDAQ:NIPG) Shares Up 1.5% - What's Next?

Key Points

• NIP Group Inc. shares rose by 1.5% on Tuesday, with trading volumes increasing significantly to 587,271 shares compared to an average of 79,572 shares.
• Analysts have a mixed outlook, with Maxim Group lowering their target price to $6.00 while maintaining a "buy" rating, whereas Wall Street Zen updated their rating to "hold."
• Quadrature Capital Ltd has recently acquired a new position in NIP Group, purchasing 11,782 shares valued at approximately $29,000 during the second quarter.

NIP Group Inc. Sponsored ADR (NASDAQ:NIPG - Get Free Report)'s stock price traded up 1.5% during mid-day trading on Tuesday . The company traded as high as $2.25 and last traded at $1.99. 587,271 shares traded hands during trading, an increase of 638% from the average session volume of 79,572 shares. The stock had previously closed at $1.96.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded NIP Group to a "hold" rating in a research note on Saturday, July 5th. Maxim Group cut their price objective on NIP Group from $12.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, NIP Group currently has an average rating of "Buy" and a consensus price target of $6.00.

NIP Group Stock Performance

The company's 50-day simple moving average is $2.01 and its 200 day simple moving average is $1.79.

Institutional Trading of NIP Group

An institutional investor recently bought a new position in NIP Group stock. Quadrature Capital Ltd bought a new position in NIP Group Inc. Sponsored ADR (NASDAQ:NIPG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 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.