NetSol Technologies, Inc. (NASDAQ:NTWK) Short Interest Update

NetSol Technologies, Inc. (NASDAQ:NTWK) saw a large increase in short interest in August. As of August 15th, there was short interest totalling 18,000 shares, an increase of 22.4% from the July 31st total of 14,700 shares. Based on an average daily volume of 16,900 shares, the short-interest ratio is presently 1.1 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its position in NetSol Technologies stock. Perritt Capital Management Inc. boosted its position in NetSol Technologies, Inc. (NASDAQ:NTWK) by 62.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,639 shares of the software maker’s stock after purchasing an additional 7,900 shares during the period. 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 (SEC). 16.02% of the stock is currently owned by institutional investors and hedge funds.

NetSol Technologies Stock Up 1.9 %

NASDAQ NTWK traded up $0.05 during trading on Friday, hitting $2.70. 31,401 shares of the stock traded hands, compared to its average volume of 15,237. NetSol Technologies has a 12-month low of $1.72 and a 12-month high of $3.10. The firm has a 50-day simple moving average of $2.71 and a 200-day simple moving average of $2.72. The company has a market capitalization of $30.78 million, a P/E ratio of -7.11 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of NetSol Technologies in a research note on Friday. They set a “buy” rating for the company.

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.