Off goes NTGR. The stock jumped today. Here's what's going on:

Shares of Netgear Inc (NTGR) are trading 20% higher at a price of $24.35 at the time of this writing.

1. Netgear's Meural digital displays show off non-fungible token art, and now it is teaming up with NFT art marketplace SuperRare.

2. NTGR reached the inflection point of rebalancing its channel inventory after deciding to transition away from lower-priced wireless routers aligning with consumer demand for wireless routers softening last year. It has taken four quarters for NTGR to reach a point where inventory should rebalance by the end of the third quarter.

3. The analyst ratings were upgraded following Q2 performance.

Netgear Inc has been trading between a 52-week high of $35.99 and a 52-week low of $17.4. The stock has a market cap of $701 Million.

NETGEAR® has pioneered advanced networking technologies for homes, businesses, and service providers around the world since 1996 and leads the industry with a broad range of award-winning products designed to simplify and improve people’s lives. By enabling people to collaborate and connect to a world of information and entertainment, NETGEAR is dedicated to delivering innovative and advanced connected solutions ranging from mobile and cloud-based services for enhanced control and security, to smart networking products, video over Ethernet for Pro AV applications, easy-to-use WiFi solutions and performance gaming routers to enhance online game play. The company is headquartered out of San Jose, Calif.