NetSol Technologies (NASDAQ:NTWK) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

NetSol Technologies Inc. (NASDAQ:NTWK) shares passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $5.91 and traded as low as $5.29. NetSol Technologies shares last traded at $5.28, with a volume of 217,303 shares traded.

Analysts Set New Price Targets

A number of analysts have recently commented on NTWK shares. Wall Street Zen raised NetSol Technologies to a “strong-buy” rating in a research note on Saturday, October 31st. Zacks Research raised shares of NetSol Technologies to a “hold” rating in a research note on Thursday, October 22nd. Weiss Ratings raised shares of NetSol Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. Finally, Noble Financial assumed coverage on shares of NetSol Technologies in a report on Wednesday, October 21st. They set an “outperform” rating and a $9.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.00.

NetSol Technologies Trading Down 23.4%

The firm has a market cap of $63.10 million, a price-to-earnings ratio of 21.12 and a beta of 0.91. The company has a 50 day moving average of $5.91 and a 200 day moving average of $4.43.

NetSol Technologies (NASDAQ:NTWK) last posted its earnings results on Thursday, November 12th. The software maker reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. NetSol Technologies had a return on equity of 6.79% and a net margin of 4.02%. The firm had revenue of $16.41 million for the quarter, compared to analyst estimates of $16.51 million. Equities analysts forecast that NetSol Technologies Inc. will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On NetSol Technologies

An institutional investor recently bought a new stake in NetSol Technologies stock. SBI Securities Co. Ltd. purchased a new stake in NetSol Technologies Inc. (NASDAQ:NTWK) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,500 shares of the software maker’s stock, valued at approximately $52,000. SBI Securities Co. Ltd. owned approximately 0.08% of NetSol Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 16.02% of the company’s stock.

NetSol Technologies Company Profile

NetSol Technologies, Inc. is a global provider of enterprise software and information technology services, with a primary focus on the asset finance and leasing industry. The company serves vehicle manufacturers, banks, financial institutions, equipment lessors and other organizations that manage commercial lending, leasing and financing operations. Its software offerings are designed to support the full lifecycle of financing transactions, including origination, credit and contract management, billing, accounting, asset management, collections and portfolio administration.