Netcapital (NASDAQ:NCPL) Trading 6% Higher – Here’s What Happened

Netcapital Inc. (NASDAQ:NCPL) shares traded up 6% during trading on Thursday . The company traded as high as $2.53 and last traded at $2.48. 145,027 shares were traded during trading, an increase of 10% from the average session volume of 132,001 shares. The stock had previously closed at $2.34.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wall Street Zen raised shares of Netcapital to a “sell” rating in a research report on Saturday, July 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Netcapital in a research report on Wednesday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Netcapital Price Performance

The firm’s fifty day moving average price is $2.34 and its two-hundred day moving average price is $2.78. The stock has a market cap of $12.20 million, a price-to-earnings ratio of -0.13 and a beta of 0.79.

Netcapital (NASDAQ:NCPL) last announced its quarterly earnings data on Monday, September 22nd. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.93). Netcapital had a negative net margin of 3,204.47% and a negative return on equity of 34.42%. The company had revenue of $0.19 million for the quarter, compared to analyst estimates of $1.51 million.

Institutional Trading of Netcapital

A hedge fund recently raised its stake in Netcapital stock. Geode Capital Management LLC boosted its holdings in Netcapital Inc. (NASDAQ:NCPL) by 31.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,574 shares of the company’s stock after purchasing an additional 3,704 shares during the quarter. Geode Capital Management LLC owned about 0.40% of Netcapital worth $107,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 30.69% of the company’s stock.

About Netcapital

Netcapital Inc operates as a fintech company. It offers Netcapital.com, an SEC-registered funding portal that enables private companies to raise capital online, as well as allows investors to invest from anywhere in the world. The company also provides various services, including automated onboarding process and filing of required regulatory documents; compliance review; custom-built offering page on its portal website; third party transfer agent and custodial services; and rolling closes which provides access to liquidity before final close date of offerings, as well as assistance with annual fillings and direct access to team for ongoing support.