NetSol Technologies (NASDAQ:NTWK) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com began coverage on shares of NetSol Technologies (NASDAQ:NTWK) in a research report issued to clients and investors on Thursday. The brokerage set a “buy” rating on the software maker’s stock.

NetSol Technologies Stock Performance

Shares of NTWK opened at $3.15 on Thursday. The business’s 50 day moving average is $2.79 and its two-hundred day moving average is $2.72. NetSol Technologies has a 52-week low of $1.75 and a 52-week high of $3.34. The firm has a market cap of $35.93 million, a price-to-earnings ratio of -8.29 and a beta of 1.07. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.02.

NetSol Technologies (NASDAQ:NTWK) last announced its earnings results on Monday, September 30th. The software maker reported ($0.01) earnings per share (EPS) for the quarter. NetSol Technologies had a net margin of 1.11% and a return on equity of 1.77%. The business had revenue of $16.45 million during the quarter.

Institutional Investors Weigh In On NetSol Technologies

A hedge fund recently raised its stake in NetSol Technologies stock. Perritt Capital Management Inc. grew its position in NetSol Technologies, Inc. (NASDAQ:NTWK) by 62.0% in the first 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 acquiring an additional 7,900 shares during the quarter. Perritt Capital Management Inc. owned approximately 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.

About NetSol Technologies

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.