Short Interest in NetSol Technologies, Inc. (NASDAQ:NTWK) Decreases By 62.6%

NetSol Technologies, Inc. (NASDAQ:NTWK) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 8,500 shares, a drop of 62.6% from the September 15th total of 22,700 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 23,900 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NetSol Technologies stock. Perritt Capital Management Inc. lifted its position in shares of NetSol Technologies, Inc. (NASDAQ:NTWK) by 62.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 & Exchange Commission. Institutional investors and hedge funds own 16.02% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of NetSol Technologies in a research note on Wednesday. They issued a “buy” rating for the company.

NetSol Technologies Stock Performance

NTWK opened at $3.13 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.02. NetSol Technologies has a 1-year low of $1.75 and a 1-year high of $3.15. The company has a market cap of $35.72 million, a price-to-earnings ratio of 52.09 and a beta of 1.07. The company’s fifty day moving average price is $2.75 and its two-hundred day moving average price is $2.71.

NetSol Technologies (NASDAQ:NTWK) last posted its quarterly earnings data on Monday, September 30th. The software maker reported ($0.01) EPS for the quarter. The firm had revenue of $16.45 million during the quarter. NetSol Technologies had a net margin of 1.11% and a return on equity of 1.77%.

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.