NetSol Technologies Inc. (NASDAQ:NTWK) Sees Large Increase in Short Interest

NetSol Technologies Inc. (NASDAQ:NTWK) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 24,200 shares, a growth of 61.3% from the September 30th total of 15,000 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 107,300 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 107,300 shares, the short-interest ratio is presently 0.2 days. Approximately 0.3% of the company’s shares are short sold.

NetSol Technologies Trading Up 1.6%

NASDAQ:NTWK opened at $4.39 on Monday. NetSol Technologies has a twelve month low of $2.14 and a twelve month high of $5.75. The company has a market cap of $51.74 million, a P/E ratio of 17.56 and a beta of 1.10. The company’s 50-day moving average price is $4.50 and its 200-day moving average price is $3.68.

NetSol Technologies (NASDAQ:NTWK) last released its earnings results on Monday, September 29th. The software maker reported $0.22 earnings per share for the quarter. The business had revenue of $18.40 million for the quarter. NetSol Technologies had a net margin of 4.46% and a return on equity of 7.40%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in NetSol Technologies in the 3rd quarter valued at about $41,000. PFG Investments LLC purchased a new stake in NetSol Technologies during the 2nd quarter worth approximately $78,000. Finally, Bridgeway Capital Management LLC raised its stake in shares of NetSol Technologies by 9.9% in the second quarter. Bridgeway Capital Management LLC now owns 53,708 shares of the software maker’s stock valued at $167,000 after acquiring an additional 4,816 shares in the last quarter. Hedge funds and other institutional investors own 16.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen upgraded NetSol Technologies to a “strong-buy” rating in a research note on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetSol Technologies in a research report on Tuesday, October 14th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, NetSol Technologies has an average rating of “Hold”.

About NetSol Technologies

NetSol Technologies, Inc designs, develops, markets, and exports enterprise software solutions to the automobile financing and leasing, banking, and financial services industries worldwide. The company offers NFS Ascent, a suite of financial applications for businesses in the finance and leasing industry.