NetSol Technologies Inc. (NASDAQ:NTWK) Short Interest Down 21.3% in September

NetSol Technologies Inc. (NASDAQ:NTWK) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 30,600 shares, a decrease of 21.3% from the August 31st total of 38,900 shares. Based on an average daily volume of 44,400 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.3% of the shares of the company are sold short.

Several equities analysts have recently commented on the company. ValuEngine downgraded NetSol Technologies from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Zacks Investment Research upgraded NetSol Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, September 9th.

Shares of NTWK stock traded down $0.05 during trading on Thursday, hitting $2.88. The company had a trading volume of 15,846 shares, compared to its average volume of 39,866. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.58 and a current ratio of 2.58. The firm has a market capitalization of $35.27 million, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 0.34 and a beta of 0.52. The stock’s 50-day moving average price is $2.92 and its 200 day moving average price is $2.81. NetSol Technologies has a one year low of $2.00 and a one year high of $5.85.

NetSol Technologies (NASDAQ:NTWK) last issued its quarterly earnings results on Monday, September 28th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. NetSol Technologies had a return on equity of 4.79% and a net margin of 5.42%.

In other news, CEO Najeeb Ghauri bought 17,264 shares of the firm’s stock in a transaction dated Monday, July 20th. The shares were bought at an average price of $2.91 per share, with a total value of $50,238.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.52% of the stock is currently owned by corporate insiders.

A hedge fund recently raised its stake in NetSol Technologies stock. Perritt Capital Management Inc. grew its position in shares of NetSol Technologies Inc. (NASDAQ:NTWK) by 60.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,000 shares of the software maker’s stock after buying an additional 12,000 shares during the quarter. Perritt Capital Management Inc. owned 0.27% of NetSol Technologies worth $86,000 as of its most recent filing with the Securities & Exchange Commission. 27.83% of the stock is owned by institutional investors.

About NetSol Technologies

NetSol Technologies, Inc designs, develops, markets, and exports software products to the automobile financing and leasing, banking, and financial services industries worldwide. It also provides system integration, consulting, and IT products and services. The company offers NetSol Financial Suite (NFS), an end-to-end solution covering leasing and finance cycle for the asset finance industry; and NFS Ascent platform, a lease accounting and contract processing engine.

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