NetSol Technologies (NASDAQ:NTWK) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen lowered shares of NetSol Technologies (NASDAQ:NTWK) from a strong-buy rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Zacks Research raised shares of NetSol Technologies to a “hold” rating in a report on Thursday, October 22nd. Noble Financial assumed coverage on shares of 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, Weiss Ratings raised shares of NetSol Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, NetSol Technologies currently has an average rating of “Buy” and an average price target of $9.00.

NetSol Technologies Trading Down 4.9%

NTWK traded down $0.26 during trading on Friday, reaching $5.02. 214,194 shares of the company were exchanged, compared to its average volume of 166,780. NetSol Technologies has a 52 week low of $2.80 and a 52 week high of $8.46. The firm has a 50 day moving average of $5.93 and a 200 day moving average of $4.44. The stock has a market cap of $59.99 million, a P/E ratio of 10.91 and a beta of 0.91.

NetSol Technologies (NASDAQ:NTWK) last posted its earnings results on Thursday, November 12th. The software maker reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. NetSol Technologies had a return on equity of 12.18% and a net margin of 7.27%. The company had revenue of $16.41 million for the quarter, compared to analysts’ expectations of $16.51 million. As a group, analysts forecast that NetSol Technologies will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in NetSol Technologies stock. SBI Securities Co. Ltd. acquired a new position in NetSol Technologies Inc. (NASDAQ:NTWK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing. 16.02% of the stock is currently owned by institutional investors and hedge funds.

NetSol Technologies Company Profile

NetSol Technologies, Inc. develops enterprise software and provides technology services, primarily for the global asset finance and leasing industry. Its customers include businesses that finance vehicles, equipment and other assets. The company’s offerings include the NFS Ascent platform, which supports finance and leasing operations such as loan and lease origination, contract management and servicing. NetSol also provides software implementation, consulting and related technology services. Founded in 1997, NetSol serves clients across North America, Europe and Asia-Pacific, among other markets.