NetSol Technologies (NASDAQ:NTWK) Share Price Passes Above Two Hundred Day Moving Average of $2.53

NetSol Technologies, Inc. (NASDAQ:NTWK) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.53 and traded as high as $2.73. NetSol Technologies shares last traded at $2.62, with a volume of 10,907 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of NetSol Technologies in a research note on Wednesday. They set a “buy” rating on the stock.

NetSol Technologies Price Performance

The firm’s 50-day simple moving average is $2.62 and its 200 day simple moving average is $2.53. The firm has a market capitalization of $29.87 million, a price-to-earnings ratio of -6.89 and a beta of 1.07.

NetSol Technologies (NASDAQ:NTWK) last posted its quarterly earnings results on Monday, May 20th. The software maker reported $0.03 EPS for the quarter. NetSol Technologies had a negative return on equity of 11.38% and a negative net margin of 7.33%. The company had revenue of $15.47 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in NetSol Technologies stock. Perritt Capital Management Inc. lifted its stake in shares of NetSol Technologies, Inc. (NASDAQ:NTWK) by 62.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,639 shares of the software maker’s stock after purchasing an additional 7,900 shares during the quarter. Perritt Capital Management Inc. owned 0.18% of NetSol Technologies worth $57,000 as of its most recent filing with the Securities and Exchange Commission. 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.