StockNews.com Initiates Coverage on NetSol Technologies (NASDAQ:NTWK)

StockNews.com assumed coverage on shares of NetSol Technologies (NASDAQ:NTWK) in a report issued on Tuesday. The brokerage issued a buy rating on the software maker’s stock.

Separately, TheStreet raised NetSol Technologies from a d rating to a c- rating in a report on Tuesday, February 13th.

NetSol Technologies Trading Up 2.3 %

Shares of NASDAQ NTWK opened at $2.71 on Tuesday. The stock has a fifty day simple moving average of $2.79 and a two-hundred day simple moving average of $2.32. NetSol Technologies has a 1-year low of $1.72 and a 1-year high of $3.05. The firm has a market cap of $30.87 million, a price-to-earnings ratio of -15.06 and a beta of 1.13.

NetSol Technologies (NASDAQ:NTWK) last announced its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.04 earnings per share for the quarter. NetSol Technologies had a negative return on equity of 5.47% and a negative net margin of 3.68%. The business had revenue of $15.24 million during the quarter.

Insider Transactions at NetSol Technologies

In other news, CFO Roger Kent Almond sold 9,264 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2.88, for a total value of $26,680.32. Following the completion of the transaction, the chief financial officer now directly owns 20,736 shares of the company’s stock, valued at $59,719.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On NetSol Technologies

An institutional investor recently raised its position in NetSol Technologies stock. Vanguard Group Inc. lifted its stake in NetSol Technologies, Inc. (NASDAQ:NTWK) by 9.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 649,497 shares of the software maker’s stock after acquiring an additional 57,003 shares during the period. Vanguard Group Inc. owned approximately 5.71% of NetSol Technologies worth $1,176,000 at the end of the most recent reporting period. 16.02% of the stock is currently owned by institutional investors and hedge funds.

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.