NetEase, Inc. (NASDAQ:NTES) Sees Large Decline in Short Interest

NetEase, Inc. (NASDAQ:NTES) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totalling 3,590,000 shares, a drop of 18.6% from the November 30th total of 4,410,000 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 1,710,000 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NTES shares. StockNews.com cut shares of NetEase from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th. Benchmark decreased their price target on NetEase from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Finally, Citigroup raised their target price on shares of NetEase from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, NetEase presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SYSTM Wealth Solutions LLC lifted its holdings in NetEase by 55.5% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. Ariadne Wealth Management LP acquired a new stake in shares of NetEase during the second quarter worth approximately $35,000. Highline Wealth Partners LLC bought a new position in shares of NetEase in the third quarter valued at approximately $45,000. RPg Family Wealth Advisory LLC acquired a new position in shares of NetEase in the 3rd quarter worth approximately $70,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in NetEase during the 3rd quarter worth approximately $76,000. 11.07% of the stock is owned by institutional investors.

NetEase Stock Performance

Shares of NTES stock traded down $0.04 during trading hours on Tuesday, hitting $89.21. The company had a trading volume of 611,212 shares, compared to its average volume of 1,681,826. NetEase has a 12 month low of $75.85 and a 12 month high of $114.50. The firm’s fifty day moving average is $86.97 and its 200 day moving average is $87.85. The firm has a market capitalization of $57.29 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 3.53 and a beta of 0.57.

NetEase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.435 per share. The ex-dividend date was Friday, November 29th. This represents a $1.74 annualized dividend and a yield of 1.95%. NetEase’s dividend payout ratio is currently 29.22%.

About NetEase

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.