NetSol Technologies, Inc. (NASDAQ:NTWK) Short Interest Update

NetSol Technologies, Inc. (NASDAQ:NTWK) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 23,100 shares, an increase of 192.4% from the March 15th total of 7,900 shares. Based on an average daily trading volume, of 21,700 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.3% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on NetSol Technologies in a research note on Friday. They set a “buy” rating for the company.

NetSol Technologies Stock Performance

NASDAQ:NTWK traded up $0.14 during trading on Tuesday, reaching $2.36. The company’s stock had a trading volume of 24,030 shares, compared to its average volume of 21,847. NetSol Technologies has a 12 month low of $2.14 and a 12 month high of $3.34. The firm has a market cap of $27.54 million, a price-to-earnings ratio of -33.71 and a beta of 0.89. The firm has a 50 day moving average of $2.42 and a 200-day moving average of $2.67.

NetSol Technologies (NASDAQ:NTWK) last announced its quarterly earnings results on Thursday, February 13th. The software maker reported ($0.10) earnings per share (EPS) for the quarter. NetSol Technologies had a negative return on equity of 2.11% and a negative net margin of 1.34%. The firm had revenue of $15.54 million during the quarter.

Hedge Funds Weigh In On NetSol Technologies

A number of hedge funds have recently modified their holdings of NTWK. Squarepoint Ops LLC bought a new stake in shares of NetSol Technologies during the fourth quarter valued at approximately $28,000. Wolverine Trading LLC lifted its position in NetSol Technologies by 184.8% during the fourth quarter. Wolverine Trading LLC now owns 12,883 shares of the software maker’s stock valued at $36,000 after purchasing an additional 28,083 shares during the period. Perritt Capital Management Inc grew its holdings in shares of NetSol Technologies by 142.3% in the fourth quarter. Perritt Capital Management Inc now owns 50,000 shares of the software maker’s stock worth $131,000 after acquiring an additional 29,361 shares during the period. Geode Capital Management LLC increased its position in shares of NetSol Technologies by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 83,386 shares of the software maker’s stock valued at $238,000 after purchasing an additional 5,882 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in NetSol Technologies by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 109,247 shares of the software maker’s stock worth $286,000 after acquiring an additional 4,199 shares during the period. Hedge funds and other institutional investors own 16.02% of the company’s stock.

NetSol Technologies Company Profile

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.