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

StockNews.com assumed coverage on shares of NetSol Technologies (NASDAQ:NTWK) in a report released on Saturday morning. The brokerage issued a buy rating on the software maker’s stock.

NetSol Technologies Price Performance

NTWK opened at $2.89 on Friday. NetSol Technologies has a 12 month low of $1.72 and a 12 month high of $3.10. The stock has a market capitalization of $32.96 million, a price-to-earnings ratio of -7.61 and a beta of 1.10. The business has a fifty day moving average price of $2.61 and a 200 day moving average price of $2.60.

NetSol Technologies (NASDAQ:NTWK) last released its earnings results on Monday, May 20th. The software maker reported $0.03 EPS for the quarter. The firm had revenue of $15.47 million during the quarter. NetSol Technologies had a negative return on equity of 11.38% and a negative net margin of 7.33%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NetSol Technologies stock. Perritt Capital Management Inc. raised its holdings in shares of NetSol Technologies, Inc. (NASDAQ:NTWK) by 62.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 SEC. Hedge funds and other institutional investors own 16.02% of the company’s stock.

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.