NIP Group: Maxim Group maintains Buy rating, lowers PT to $6.

AinvestTuesday, May 20, 2025 11:06 am ET
1min read

NIP Group: Maxim Group maintains Buy rating, lowers PT to $6.

Maxim Group has maintained its Buy rating on NIP Group, but has lowered its price target to $6 per share, as of May 20, 2025. This update comes after the firm initiated coverage of the company on May 19, 2025, with a previous price target of $11.22 per share. The new target represents a significant reduction from the previous forecast, indicating a more conservative outlook.

The company's latest reported closing price was $0.58 per share, which means the new price target represents a 1,817.95% increase from the current share price. Despite the reduced target, Maxim Group's analyst still sees upside potential in NIP Group's stock. The firm's previous price target was an average of $11.22 per share, with forecasts ranging from $11.11 to $11.55. The average price target represented a substantial increase from the latest reported closing price.

Maxim Group's latest move comes amidst growing institutional interest in NIP Group. As of May 7, 2025, 20 funds or institutions reported positions in the company, an increase of 15 owner(s) or 300.00% in the last quarter. The average portfolio weight of all funds dedicated to NIP Group increased by 9,251.96% to 0.00%. Total shares owned by institutions increased in the last three months by 13,102.01% to 729K shares. Some of the major shareholders include Armistice Capital, Parallel Advisors, Avantax Planning Partners, UBS Group, and Arch Venture.

References:
[1] https://www.nasdaq.com/articles/maxim-group-initiates-coverage-cero-therapeutics-holdings-cero-buy-recommendation