NetSol Technologies Inc. (NASDAQ:NTWK) Shares Shorted: Short Interest Up 188.1% in September

NetSol Technologies Inc. (NASDAQ:NTWK) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 48,894 shares, a growth of 188.1% from the September 15th total of 16,969 shares. Based on an average daily trading volume, of 148,585 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of NetSol Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, NetSol Technologies currently has a consensus rating of “Hold”.

NetSol Technologies Price Performance

Shares of NASDAQ:NTWK opened at $5.95 on Wednesday. NetSol Technologies has a one year low of $2.73 and a one year high of $6.48. The company’s fifty day moving average price is $4.60 and its 200-day moving average price is $4.29. The firm has a market capitalization of $71.10 million, a price-to-earnings ratio of 24.88 and a beta of 0.94.

NetSol Technologies (NASDAQ:NTWK) last issued its earnings results on Monday, October 5th. The software maker reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.24. NetSol Technologies had a return on equity of 6.79% and a net margin of 4.02%. The business had revenue of $20.72 million during the quarter, compared to analyst estimates of $15.10 million.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NetSol Technologies stock. Empowered Funds LLC grew its stake in NetSol Technologies Inc. (NASDAQ:NTWK) by 9.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,151 shares of the software maker’s stock after purchasing an additional 5,624 shares during the quarter. Empowered Funds LLC owned about 0.57% of NetSol Technologies worth $231,000 at the end of the most recent quarter. 16.02% of the stock is owned by hedge funds and other institutional investors.

NetSol Technologies Company Profile

NetSol Technologies, Inc is a global provider of enterprise software and technology services focused primarily on the asset finance and leasing industry. The company develops solutions that help banks, captive finance companies, equipment manufacturers and other organizations manage lending, leasing and financing operations.

Its product portfolio includes the NFS Ascent platform, a software suite designed to support the lifecycle of asset finance transactions, including origination, credit assessment, contract management, billing, accounting and portfolio administration.