NetSol Technologies Inc. (NASDAQ:NTWK) Short Interest Down 36.4% in May

NetSol Technologies Inc. (NASDAQ:NTWK) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totaling 12,065 shares, a drop of 36.4% from the April 30th total of 18,958 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 69,066 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On NetSol Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. acquired a new position in NetSol Technologies during the third quarter valued at approximately $37,000. Thompson Davis & CO. Inc. acquired a new position in NetSol Technologies during the third quarter valued at approximately $54,000. XTX Topco Ltd acquired a new position in NetSol Technologies during the fourth quarter valued at approximately $58,000. IFP Advisors Inc grew its holdings in NetSol Technologies by 33,588.0% during the third quarter. IFP Advisors Inc now owns 16,844 shares of the software maker’s stock valued at $80,000 after purchasing an additional 16,794 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in NetSol Technologies during the fourth quarter valued at approximately $82,000. Institutional investors and hedge funds own 16.02% of the company’s stock.

NetSol Technologies Trading Down 3.1%

Shares of NTWK stock opened at $4.62 on Wednesday. NetSol Technologies has a 12 month low of $2.73 and a 12 month high of $5.75. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $3.77 and its two-hundred day moving average is $3.39. The company has a market cap of $54.87 million, a PE ratio of 30.80 and a beta of 0.92.

NetSol Technologies (NASDAQ:NTWK) last announced its quarterly earnings results on Thursday, May 14th. The software maker reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. NetSol Technologies had a return on equity of 4.24% and a net margin of 2.49%.The company had revenue of $19.83 million for the quarter, compared to the consensus estimate of $15.10 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetSol Technologies in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

About NetSol Technologies

NetSol Technologies, Inc is a publicly traded enterprise software provider specializing in asset finance and leasing solutions. Headquartered in Calabasas, California, the company was founded in 1997 by Najeeb Ghauri, who continues to serve as its chief executive officer. NetSol has built a reputation for delivering end-to-end digital solutions tailored to the finance, leasing, and rental industries, enabling clients to streamline operations, improve customer engagement, and accelerate business growth.

The company’s flagship offering, NFS Ascent, is a configurable, modular platform that supports the entire contract lifecycle—from origination and credit approval through servicing and end-of-term processing.