NewGenIvf Group Limited (NASDAQ:NIVF) Stock Short Interest Climbs 324.1%

by · The Markets Daily

NewGenIvf Group Limited (NASDAQ:NIVF – Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 70,041 shares, an increase of 324.1% from the September 15th total of 16,516 shares. Currently, 4.9% of the company’s shares are sold short. Based on an average daily trading volume, of 84,296,451 shares, the days-to-cover ratio is presently 0.0 days.

Insider Activity

In other NewGenIvf Group news, Director Kong Yiu Cheung bought 2,500,000 shares of NewGenIvf Group stock in a transaction dated Monday, July 27th. The shares were purchased at an average cost of $1.00 per share, with a total value of $2,500,000.00. Following the completion of the purchase, the director owned 3,722,223 shares of the company’s stock, valued at approximately $3,722,223. This represents a 204.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 31.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NIVF. Wall Street Zen upgraded shares of NewGenIvf Group to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings restated a “sell (d)” rating on shares of NewGenIvf Group in a report on Friday, July 24th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, NewGenIvf Group has a consensus rating of “Sell”.

View Our Latest Stock Analysis on NIVF

NewGenIvf Group Trading Down 11.1%

Shares of NASDAQ NIVF traded down $0.01 during mid-day trading on Friday, hitting $0.07. 17,309,783 shares of the stock traded hands, compared to its average volume of 76,455,312. NewGenIvf Group has a 52 week low of $0.06 and a 52 week high of $1,539.00. The stock has a fifty day moving average price of $1.07 and a 200-day moving average price of $6.88.

NewGenIvf Group shares are scheduled to reverse split on Monday, October 12th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, October 11th.

NewGenIvf Group (NASDAQ:NIVF – Get Free Report) last posted its quarterly earnings data on Wednesday, October 7th. The company reported ($13.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $18.18 by ($31.50). The business had revenue of $0.96 million during the quarter, compared to analyst estimates of $20.10 million. Research analysts forecast that NewGenIvf Group will post 42.67 earnings per share for the current fiscal year.

About NewGenIvf Group

(Get Free Report)

NewGenIvf Group Limited is a reproductive-healthcare company focused on fertility treatment and assisted reproductive technology. Through its operating businesses, the company provides services intended to help individuals and couples pursue pregnancy, including in vitro fertilization (IVF) and related fertility-care procedures.

Its services may include fertility consultations, laboratory-based embryo procedures, intracytoplasmic sperm injection (ICSI), embryo transfer, fertility preservation, and genetic testing or screening associated with assisted reproduction.

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