NetSol Technologies, Inc. (NASDAQ:NTWK) Short Interest Update

NetSol Technologies, Inc. (NASDAQ:NTWK) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 7,800 shares, a drop of 46.6% from the February 13th total of 14,600 shares. Based on an average daily trading volume, of 25,900 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the company’s stock are short sold.

NetSol Technologies Trading Down 1.3 %

NTWK traded down $0.03 during trading on Friday, reaching $2.32. The stock had a trading volume of 24,120 shares, compared to its average volume of 23,434. The company has a market capitalization of $27.07 million, a price-to-earnings ratio of -33.14 and a beta of 1.01. The stock’s 50 day moving average is $2.57 and its two-hundred day moving average is $2.73. NetSol Technologies has a one year low of $2.28 and a one year high of $3.34.

NetSol Technologies (NASDAQ:NTWK) last issued its quarterly earnings results on Thursday, February 13th. The software maker reported ($0.10) earnings per share (EPS) for the quarter. NetSol Technologies had a negative return on equity of 2.11% and a negative net margin of 1.34%. The business had revenue of $15.54 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in NetSol Technologies by 7.6% during the third quarter. Geode Capital Management LLC now owns 83,386 shares of the software maker’s stock valued at $238,000 after buying an additional 5,882 shares during the period. Perritt Capital Management Inc increased its stake in shares of NetSol Technologies by 142.3% in the 4th quarter. Perritt Capital Management Inc now owns 50,000 shares of the software maker’s stock worth $131,000 after purchasing an additional 29,361 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in NetSol Technologies by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 109,247 shares of the software maker’s stock worth $286,000 after purchasing an additional 4,199 shares during the period. Topline Capital Management LLC purchased a new position in NetSol Technologies during the fourth quarter valued at $1,351,000. Finally, Squarepoint Ops LLC bought a new stake in NetSol Technologies during the fourth quarter valued at about $28,000. 16.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on NetSol Technologies in a report on Monday, March 10th. They set a “buy” rating on the stock.

About NetSol Technologies

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.