Ethernity Networks (LON:ENET) Trading Up 23.5% – Here’s Why

Ethernity Networks Ltd. (LON:ENET) rose 23.5% during trading on Thursday . The company traded as high as GBX 0.08 ($0.00) and last traded at GBX 0.08 ($0.00). Approximately 72,404,945 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 53,009,945 shares. The stock had previously closed at GBX 0.07 ($0.00).

Ethernity Networks Stock Performance

The firm has a 50-day simple moving average of GBX 0.10 and a two-hundred day simple moving average of GBX 0.18. The company has a current ratio of 0.42, a quick ratio of 1.37 and a debt-to-equity ratio of 21.00. The company has a market capitalization of £1.29 million, a price-to-earnings ratio of -0.06 and a beta of 0.58.

Ethernity Networks Company Profile

Ethernity Networks Ltd. provides technology solutions for telecom, mobile, security, and data center markets in Asia, Europe, Israel, and the United States. The company develops and delivers data processing technology and solutions for carrier Ethernet switching. It provides ENET flow processors for telco/cloud network; ACE-NIC40 SmartNIC, an open flow enabled software acceleration NIC; ACE-NIC50 SmartNIC, which offers 10/25G Ethernet connectivity and field-programmable gate array (FPGA) acceleration; and ACE-NIC100 SmartNIC that provides flexible 10/25/40/100G Ethernet connectivity and programmable FPGA acceleration.