StockNews.com Initiates Coverage on NetSol Technologies (NASDAQ:NTWK)

Analysts at StockNews.com began coverage on shares of NetSol Technologies (NASDAQ:NTWK) in a note issued to investors on Sunday. The brokerage set a “buy” rating on the software maker’s stock.

Separately, TheStreet upgraded shares of NetSol Technologies from a “d” rating to a “c-” rating in a research note on Tuesday, February 13th.

NetSol Technologies Trading Up 0.4 %

NetSol Technologies stock opened at $2.62 on Friday. The firm has a market capitalization of $29.87 million, a P/E ratio of -6.89 and a beta of 1.12. NetSol Technologies has a twelve month low of $1.72 and a twelve month high of $3.05. The stock’s fifty day simple moving average is $2.70 and its 200-day simple moving average is $2.46.

Insider Buying and Selling

In other NetSol Technologies news, CFO Roger Kent Almond sold 9,264 shares of NetSol Technologies stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2.88, for a total transaction of $26,680.32. Following the completion of the sale, the chief financial officer now directly owns 20,736 shares of the company’s stock, valued at approximately $59,719.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.16% of the company’s stock.

Institutional Investors Weigh In On NetSol Technologies

A hedge fund recently raised its stake in NetSol Technologies stock. Perritt Capital Management Inc. lifted its holdings in shares of NetSol Technologies, Inc. (NASDAQ:NTWK) by 62.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 0.18% of NetSol Technologies worth $57,000 at the end of the most recent reporting period. 16.02% of the stock is owned by hedge funds and other institutional investors.

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.