NINGI Research – fundamental research in the public interest

Research report: Arbor Realty Trust, Inc. (NYSE: ABR)

We are short Arbor Realty Trust, Inc. (NYSE: ABR), because, in our opinion, Arbor hid its toxic mobile homes portfolio to manipulate its stock price and avoid insolvency, $599 million of Arbor’s escrows evaporated overnight, the company’s escrow balances and revenue are fake, in an Archegos-like situation $2.5 billion of repo facilities are subject to […]
Research report: Provident Bancorp. (NASDAQ: PVBC)

NINGI Research is short Provident Bancorp, Inc. (NASDAQ: PVBC), because, after recent revelations regarding losses due to crypto-backed loans, we think the bank is riddled with nepotism. In our opinion, the CEO failed at risk management and leadership due to seemingly personal relationships. The board of directors failed at its supervisory duties, and the public’s […]
Research report: BRP Group (NASDAQ: BRP)

NINGI Research is short BRP Group, Inc. (NASDAQ: BRP), because, in our opinion, BRP has doctored its organic growth rate to beat analysts’ estimates. On top of that, shareholders are faced with a company whose key intellectual property was misappropriated, whose growth is declining, whose margins are not improving, and whose interest expense will increase […]
Research note – Sinch AB (SFB: SINCH)

NINGI Research is short Sinch AB (Ticker: SINCH.ST) because, in our opinion, the company acquired nocuous assets and misstated its accounts to beat analysts’ estimates and pump its share price. We have found material misstatements within the company’s reporting, and think past interim reports and the 2021 annual report do not present an accurate or […]
Research report: Sinch AB (SFB: SINCH)

NINGI Research is short Sinch AB (Ticker: SINCH.ST) because, in our opinion, the company acquired nocuous assets and misstated its accounts to beat analysts’ estimates and pump its share price. We have found material misstatements within the company’s current assets and think the annual report for the full year of 2021 does not present an […]
Research report: Sono Group N.V. (NASDAQ: SEV)

Executive Summary NINGI Research is short Sono Group N.V. (Ticker: SEV) because we think that the company did not disclose material information regarding target groups, does not have a viable product up to now, customers cancelations are accelerating, any further funding is unlikely and there is a severe misalignment of interests between management and shareholders. […]
Research report: Northern Data AG (XTRA: NB2)

Executive Summary NINGI Research is short Northern Data AG (Ticker: NB2) because the company defrauded investors and acted in a fraudulent way to enrich a small group of shareholders and company insiders, which led to concealed insolvency. With the help of several holding companies major shareholders Marco Beckmann, Christian Angermayer, Mike Novogratz and Brendan Blumer […]