NetSol Technologies Inc. (NASDAQ:NTWK) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 38,900 shares, a growth of 28.0% from the August 15th total of 30,400 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average trading volume of 46,900 shares, the days-to-cover ratio is presently 0.8 days.
In other NetSol Technologies news, CEO Najeeb Ghauri bought 11,462 shares of the firm’s stock in a transaction that occurred on Friday, July 17th. The shares were acquired at an average cost of $2.78 per share, with a total value of $31,864.36. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 11.52% of the company’s stock.
An institutional investor recently raised its position in NetSol Technologies stock. Marshall Wace LLP boosted its stake in NetSol Technologies Inc. (NASDAQ:NTWK) by 692.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,340 shares of the software maker’s stock after purchasing an additional 43,988 shares during the period. Marshall Wace LLP owned about 0.43% of NetSol Technologies worth $328,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 27.83% of the company’s stock.
NTWK has been the subject of a number of research reports. ValuEngine cut shares of NetSol Technologies from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. Zacks Investment Research raised shares of NetSol Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, September 9th.
NTWK traded down $0.04 on Wednesday, reaching $2.85. The stock had a trading volume of 986 shares, compared to its average volume of 40,933. NetSol Technologies has a fifty-two week low of $2.00 and a fifty-two week high of $6.45. The firm has a 50-day moving average of $3.00 and a 200-day moving average of $2.84. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $34.79 million, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 0.34 and a beta of 0.52.
About NetSol Technologies
NetSol Technologies, Inc designs, develops, markets, and exports software products to the automobile financing and leasing, banking, and financial services industries worldwide. It also provides system integration, consulting, and IT products and services. The company offers NetSol Financial Suite (NFS), an end-to-end solution covering leasing and finance cycle for the asset finance industry; and NFS Ascent platform, a lease accounting and contract processing engine.
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