NetSol Technologies Inc. (NASDAQ:NTWK) Short Interest Up 61.3% in October
NetSol Technologies Inc. (NASDAQ:NTWK) experienced a significant increase in short interest of 61.3% in October, totaling 24,200 shares as of October 15th, compared to 15,000 shares at the end of September. This represents approximately 0.3% of the company's shares. The short-interest ratio is currently 0.2 days based on an average daily trading volume of 107,300 shares. The stock opened at $4.39, with a market cap of $51.74 million and a P/E ratio of 17.56. Analysts maintain a "Hold" rating on the stock, with some suggesting a "strong-buy."
NetSol Technologies Inc. (NASDAQ:NTWK - Get Free Report) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 24,200 shares, an increase of 61.3% from the September 30th total of 15,000 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily volume of 107,300 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 107,300 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.3% of the shares of the stock are short sold.
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Institutional Investors Weigh In On NetSol Technologies
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Hedge funds have recently bought and sold shares of the business. PFG Investments LLC purchased a new stake in NetSol Technologies during the second quarter valued at $78,000. Global Retirement Partners LLC purchased a new stake in NetSol Technologies during the third quarter valued at $41,000. Finally, Bridgeway Capital Management LLC raised its stake in NetSol Technologies by 9.9% during the second quarter. Bridgeway Capital Management LLC now owns 53,708 shares of the software maker's stock valued at $167,000 after purchasing an additional 4,816 shares in the last quarter. Hedge funds and other institutional investors own 16.02% of the company's stock.
NetSol Technologies Trading Up 1.6%
Shares of NTWK stock opened at $4.39 on Friday. NetSol Technologies has a 12-month low of $2.14 and a 12-month high of $5.75. The stock's 50-day moving average price is $4.50 and its 200-day moving average price is $3.67. The stock has a market capitalization of $51.74 million, a price-to-earnings ratio of 17.56 and a beta of 1.10.
NetSol Technologies (NASDAQ:NTWK - Get Free Report) last issued its earnings results on Monday, September 29th. The software maker reported $0.22 earnings per share (EPS) for the quarter. The firm had revenue of $18.40 million for the quarter. NetSol Technologies had a return on equity of 7.40% and a net margin of 4.46%.
Wall Street Analysts Forecast Growth
NTWK has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of NetSol Technologies in a research report on Tuesday, October 14th. Wall Street Zen raised shares of NetSol Technologies to a "strong-buy" rating in a report on Saturday, October 11th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, NetSol Technologies currently has an average rating of "Hold".
View Our Latest Analysis on NTWK
NetSol Technologies Company Profile
(Get Free Report)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.
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