NetSol Technologies Inc. (NASDAQ:NTWK) Shares Shorted: Short Interest Up 188.1% in September

NetSol Technologies Inc. (NASDAQ:NTWK) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 48,894 shares, a growth of 188.1% from the September 15th total of 16,969 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average trading volume of 148,585 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On NetSol Technologies

A hedge fund recently bought a new position in NetSol Technologies stock. Evernest Financial Advisors LLC acquired a new position in shares of NetSol Technologies Inc. (NASDAQ:NTWK) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 130,452 shares of the software maker’s stock, valued at approximately $419,000. Evernest Financial Advisors LLC owned about 1.10% of NetSol Technologies as of its most recent SEC filing. 16.02% of the stock is currently owned by institutional investors and hedge funds.

NetSol Technologies Stock Down 4.3%

Shares of NTWK stock traded down $0.27 during trading hours on Tuesday, hitting $5.95. 132,329 shares of the company were exchanged, compared to its average volume of 42,454. The firm has a market cap of $71.10 million, a PE ratio of 23.80 and a beta of 0.94. NetSol Technologies has a 1 year low of $2.73 and a 1 year high of $6.48. The firm has a fifty day moving average of $4.60 and a 200 day moving average of $4.29.

NetSol Technologies (NASDAQ:NTWK) last released its earnings results on Monday, October 5th. The software maker reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.24. NetSol Technologies had a net margin of 4.02% and a return on equity of 6.79%. The business had revenue of $20.72 million for the quarter, compared to analysts’ expectations of $15.10 million.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded NetSol Technologies from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, September 29th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

NetSol Technologies Company Profile

NetSol Technologies, Inc is a global provider of enterprise software and technology services focused primarily on the asset finance and leasing industry. The company develops solutions that help banks, captive finance companies, equipment manufacturers and other organizations manage lending, leasing and financing operations.

Its product portfolio includes the NFS Ascent platform, a software suite designed to support the lifecycle of asset finance transactions, including origination, credit assessment, contract management, billing, accounting and portfolio administration.