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

Equities research analysts at StockNews.com assumed coverage on shares of NetSol Technologies (NASDAQ:NTWK) in a note issued to investors on Friday. The brokerage set a “buy” rating on the software maker’s stock.

NetSol Technologies Stock Performance

NetSol Technologies stock opened at $2.61 on Friday. The stock has a market cap of $29.77 million, a PE ratio of -6.87 and a beta of 1.10. NetSol Technologies has a one year low of $1.72 and a one year high of $3.10. The stock has a fifty day moving average of $2.71 and a 200 day moving average of $2.72.

Institutional Trading of NetSol Technologies

An institutional investor recently raised its position in NetSol Technologies stock. Perritt Capital Management Inc. lifted its holdings in NetSol Technologies, Inc. (NASDAQ:NTWK) by 62.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,639 shares of the software maker’s stock after acquiring an additional 7,900 shares during the period. Perritt Capital Management Inc. owned 0.18% of NetSol Technologies worth $57,000 at the end of the most recent reporting period. 16.02% of the stock is owned by hedge funds and other institutional investors.

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.