NetSol Technologies Inc. (NASDAQ:NTWK) Stock Short Interest Report for October

NetSol Technologies Inc. (NASDAQ:NTWK) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 95,199 shares, an increase of 94.7% from the September 30th total of 48,894 shares. Based on an average trading volume of 158,048 shares, the short-interest ratio is currently 0.6 days. Currently, 0.9% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in NetSol Technologies stock. SBI Securities Co. Ltd. acquired a new stake in NetSol Technologies Inc. (NASDAQ:NTWK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,500 shares of the software maker’s stock, valued at approximately $52,000. SBI Securities Co. Ltd. owned 0.08% of NetSol Technologies at the end of the most recent reporting period. Institutional investors own 16.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NTWK. Wall Street Zen upgraded shares of NetSol Technologies to a “strong-buy” rating in a research report on Saturday. Weiss Ratings upgraded shares of NetSol Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Noble Financial began coverage on NetSol Technologies in a research note on Wednesday, October 21st. They set an “outperform” rating and a $9.00 target price for the company. Finally, Zacks Research upgraded NetSol Technologies to a “hold” rating in a research note on Thursday, October 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, NetSol Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

NetSol Technologies Stock Down 1.0%

NASDAQ NTWK opened at $7.68 on Friday. NetSol Technologies has a twelve month low of $2.73 and a twelve month high of $8.46. The company has a market cap of $91.78 million, a price-to-earnings ratio of 30.72 and a beta of 0.94. The business’s fifty day moving average is $5.42 and its 200 day moving average is $4.26.

NetSol Technologies (NASDAQ:NTWK) last issued its quarterly earnings data on Monday, October 5th. The software maker reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.24. NetSol Technologies had a return on equity of 6.79% and a net margin of 4.02%. The business had revenue of $20.72 million for the quarter, compared to analyst estimates of $15.10 million. On average, research analysts anticipate that NetSol Technologies will post 0.43 earnings per share for the current fiscal year.

About NetSol Technologies

NetSol Technologies, Inc is a global provider of enterprise software and information technology services, with a primary focus on the asset finance and leasing industry. The company serves vehicle manufacturers, banks, financial institutions, equipment lessors and other organizations that manage commercial lending, leasing and financing operations.

Its software offerings are designed to support the full lifecycle of financing transactions, including origination, credit and contract management, billing, accounting, asset management, collections and portfolio administration.