NetSol Technologies, Inc. (NASDAQ:NTWK) Sees Significant Increase in Short Interest

NetSol Technologies, Inc. (NASDAQ:NTWK) was the target of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 14,600 shares, a growth of 31.5% from the January 31st total of 11,100 shares. Based on an average trading volume of 26,500 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.2% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of NetSol Technologies in a research report on Sunday. They set a “buy” rating on the stock.

NetSol Technologies Price Performance

NetSol Technologies stock opened at $2.46 on Thursday. The firm has a 50 day simple moving average of $2.60 and a 200-day simple moving average of $2.75. The stock has a market cap of $28.71 million, a price-to-earnings ratio of -35.14 and a beta of 1.07. NetSol Technologies has a 1-year low of $2.28 and a 1-year high of $3.34.

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

Hedge Funds Weigh In On NetSol Technologies

A number of hedge funds have recently modified their holdings of NTWK. Topline Capital Management LLC acquired a new position in NetSol Technologies in the fourth quarter valued at about $1,351,000. Dimensional Fund Advisors LP raised its position in NetSol Technologies by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 109,247 shares of the software maker’s stock valued at $286,000 after purchasing an additional 4,199 shares during the period. Geode Capital Management LLC lifted its stake in NetSol Technologies by 7.6% during the third quarter. Geode Capital Management LLC now owns 83,386 shares of the software maker’s stock worth $238,000 after purchasing an additional 5,882 shares in the last quarter. Perritt Capital Management Inc boosted its position in shares of NetSol Technologies by 142.3% during the fourth quarter. Perritt Capital Management Inc now owns 50,000 shares of the software maker’s stock worth $131,000 after buying an additional 29,361 shares during the period. Finally, Wolverine Trading LLC boosted its position in shares of NetSol Technologies by 184.8% during the fourth quarter. Wolverine Trading LLC now owns 12,883 shares of the software maker’s stock worth $36,000 after buying an additional 28,083 shares during the period. 16.02% of the stock is currently owned by hedge funds and other institutional investors.

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.