NetSol Technologies, Inc. (NASDAQ:NTWK) Sees Large Growth in Short Interest

NetSol Technologies, Inc. (NASDAQ:NTWK) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 23,100 shares, a growth of 192.4% from the March 15th total of 7,900 shares. Based on an average daily volume of 21,700 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.3% of the shares of the company are short sold.

NetSol Technologies Stock Up 3.8 %

NASDAQ NTWK traded up $0.09 during trading hours on Wednesday, hitting $2.45. 183,931 shares of the stock were exchanged, compared to its average volume of 22,530. The company has a market cap of $28.59 million, a price-to-earnings ratio of -35.00 and a beta of 0.89. The stock has a 50-day moving average of $2.41 and a 200 day moving average of $2.67. NetSol Technologies has a 12-month low of $2.14 and a 12-month high of $3.34.

NetSol Technologies (NASDAQ:NTWK) last posted its quarterly earnings results on Thursday, February 13th. The software maker reported ($0.10) earnings per share (EPS) for the quarter. The company had revenue of $15.54 million for the quarter. NetSol Technologies had a negative net margin of 1.34% and a negative return on equity of 2.11%.

Institutional Investors Weigh In On NetSol Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new position in NetSol Technologies during the fourth quarter worth about $28,000. Wolverine Trading LLC increased its stake in shares of NetSol Technologies by 184.8% during the 4th quarter. Wolverine Trading LLC now owns 12,883 shares of the software maker’s stock worth $36,000 after purchasing an additional 28,083 shares in the last quarter. Perritt Capital Management Inc raised its position in shares of NetSol Technologies by 142.3% during the 4th quarter. Perritt Capital Management Inc now owns 50,000 shares of the software maker’s stock worth $131,000 after purchasing an additional 29,361 shares during the last quarter. Geode Capital Management LLC lifted its stake in NetSol Technologies by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 83,386 shares of the software maker’s stock valued at $238,000 after buying an additional 5,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in NetSol Technologies by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 109,247 shares of the software maker’s stock valued at $286,000 after buying an additional 4,199 shares during the last quarter. 16.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of NetSol Technologies in a research note on Friday, April 11th. They issued a “buy” rating on the stock.

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.