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

by · The Markets Daily

NetSol Technologies, Inc. (NASDAQ:NTWK – Get Free Report) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 17,200 shares, a growth of 102.4% from the September 30th total of 8,500 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 23,100 shares, the short-interest ratio is presently 0.7 days.

NetSol Technologies Stock Performance

NASDAQ NTWK remained flat at $3.15 during mid-day trading on Friday. 9,987 shares of the company were exchanged, compared to its average volume of 25,207. The firm has a market capitalization of $36.00 million, a PE ratio of 52.51 and a beta of 1.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.99 and a quick ratio of 1.99. NetSol Technologies has a 1 year low of $1.75 and a 1 year high of $3.34. The firm’s fifty day simple moving average is $2.86 and its two-hundred day simple moving average is $2.73.

NetSol Technologies (NASDAQ:NTWK – Get Free Report) last posted its quarterly earnings data on Monday, September 30th. The software maker reported ($0.01) earnings per share (EPS) for the quarter. The business had revenue of $16.45 million for the quarter. NetSol Technologies had a return on equity of 1.77% and a net margin of 1.11%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of NetSol Technologies in a research note on Friday. They set a “buy” rating on the stock.

Read Our Latest Stock Analysis on NetSol Technologies

Institutional Inflows and Outflows

An institutional investor recently raised its position in NetSol Technologies stock. Perritt Capital Management Inc. increased its stake in NetSol Technologies, Inc. (NASDAQ:NTWK – Free Report) by 62.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,639 shares of the software maker’s stock after acquiring an additional 7,900 shares during the period. Perritt Capital Management Inc. owned approximately 0.18% of NetSol Technologies worth $57,000 as of its most recent SEC filing. 16.02% of the stock is currently owned by institutional investors.

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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