NetSol Technologies Inc. (NTWK) Director Shahid Burki Purchases 4,000 Shares of Stock
NetSol Technologies Inc. (NASDAQ:NTWK) Director Shahid Burki acquired 4,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were bought at an average price of $3.54 per share, for a total transaction of $14,160.00. Following the purchase, the director now directly owns 79,967 shares of the company’s stock, valued at $283,083.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
NetSol Technologies Inc. (NASDAQ NTWK) opened at 3.70 on Wednesday. The stock’s 50 day moving average price is $4.17 and its 200 day moving average price is $4.38. The firm has a market capitalization of $41.06 million, a PE ratio of 168.18 and a beta of 0.56. NetSol Technologies Inc. has a 12 month low of $3.30 and a 12 month high of $6.65.
NetSol Technologies (NASDAQ:NTWK) last announced its quarterly earnings data on Wednesday, September 27th. The software maker reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.26). The business had revenue of $14.48 million for the quarter. NetSol Technologies had a negative return on equity of 6.58% and a negative net margin of 7.95%. Equities research analysts expect that NetSol Technologies Inc. will post ($0.19) earnings per share for the current fiscal year.
NetSol Technologies declared that its board has approved a share repurchase program on Tuesday, July 18th that authorizes the company to repurchase 500,000 shares. This repurchase authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
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An institutional investor recently raised its position in NetSol Technologies stock. Municipal Employees Retirement System of Michigan grew its stake in NetSol Technologies Inc. (NASDAQ:NTWK) by 25.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,250 shares of the software maker’s stock after purchasing an additional 15,380 shares during the period. Municipal Employees Retirement System of Michigan owned about 0.69% of NetSol Technologies worth $301,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 21.31% of the company’s stock.
Separately, TheStreet downgraded NetSol Technologies from a “c-” rating to a “d” rating in a research report on Thursday, September 28th.
NetSol Technologies Company Profile
NetSol Technologies, Inc is a provider of information technology (IT) and enterprise software solutions. The Company is engaged in the licensing, customization, enhancement and maintenance of its suite of financial applications under the brand names, NetSol Financial Suite (NFS) and NFS Ascent, for businesses in the lease and finance industry.
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