NetSol Technologies (NASDAQ:NTWK) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

NetSol Technologies Inc. (NASDAQ:NTWK)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.96 and traded as high as $4.27. NetSol Technologies shares last traded at $4.09, with a volume of 71,554 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen started coverage on shares of NetSol Technologies in a report on Wednesday, May 21st. They set a “buy” rating for the company.

NetSol Technologies Price Performance

The company’s fifty day moving average is $3.76 and its 200-day moving average is $2.96. The stock has a market cap of $47.89 million, a PE ratio of 204.60 and a beta of 1.01.

Insiders Place Their Bets

In other news, President Naeem Ghauri acquired 18,279 shares of the business’s stock in a transaction on Monday, July 14th. The stock was bought at an average price of $3.85 per share, with a total value of $70,374.15. Following the completion of the acquisition, the president owned 459,853 shares of the company’s stock, valued at approximately $1,770,434.05. This represents a 4.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 33,254 shares of company stock valued at $121,161 over the last three months. 13.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in NetSol Technologies by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 109,247 shares of the software maker’s stock valued at $286,000 after buying an additional 4,199 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in 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 buying an additional 4,816 shares in the last quarter. PFG Investments LLC purchased a new position in NetSol Technologies in the second quarter valued at $78,000. Wolverine Trading LLC increased its holdings in NetSol Technologies by 184.8% in the fourth quarter. Wolverine Trading LLC now owns 12,883 shares of the software maker’s stock valued at $36,000 after buying an additional 28,083 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of NetSol Technologies in the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 16.02% of the company’s stock.

NetSol Technologies Company Profile

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.