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

StockNews.com started coverage on shares of NetSol Technologies (NASDAQ:NTWK) in a research report released on Saturday. The firm issued a buy rating on the software maker’s stock.

NetSol Technologies Stock Performance

Shares of NTWK stock opened at $2.70 on Friday. NetSol Technologies has a 52 week low of $1.72 and a 52 week high of $3.10. The firm’s 50-day simple moving average is $2.73 and its two-hundred day simple moving average is $2.71. The firm has a market cap of $30.78 million, a price-to-earnings ratio of -7.11 and a beta of 1.07.

Institutional Trading of NetSol Technologies

An institutional investor recently raised its position in NetSol Technologies stock. Perritt Capital Management Inc. boosted its position in NetSol Technologies, Inc. (NASDAQ:NTWK) by 62.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,639 shares of the software maker’s stock after purchasing an additional 7,900 shares during the quarter. Perritt Capital Management Inc. owned about 0.18% of NetSol Technologies worth $57,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 16.02% of the stock is currently owned by institutional investors.

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.