NetSol Technologies, Inc. (NASDAQ:NTWK) Short Interest Down 43.2% in November

NetSol Technologies, Inc. (NASDAQ:NTWK) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 8,300 shares, a decline of 43.2% from the October 31st total of 14,600 shares. Based on an average daily trading volume, of 26,400 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

NetSol Technologies Price Performance

Shares of NTWK traded up $0.02 during midday trading on Thursday, reaching $2.68. The stock had a trading volume of 13,396 shares, compared to its average volume of 25,212. The company’s 50-day moving average is $2.94 and its 200 day moving average is $2.77. The company has a market capitalization of $30.77 million, a price-to-earnings ratio of 38.29 and a beta of 1.07. NetSol Technologies has a 12-month low of $1.94 and a 12-month high of $3.34. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.01.

NetSol Technologies (NASDAQ:NTWK) last issued its earnings results on Monday, September 30th. The software maker reported ($0.01) earnings per share for the quarter. The company had revenue of $16.45 million for the quarter. NetSol Technologies had a net margin of 1.17% and a return on equity of 1.84%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in NetSol Technologies stock. Geode Capital Management LLC raised its position in shares of NetSol Technologies, Inc. (NASDAQ:NTWK) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 83,386 shares of the software maker’s stock after acquiring an additional 5,882 shares during the quarter. Geode Capital Management LLC owned approximately 0.73% of NetSol Technologies worth $238,000 at the end of the most recent quarter. 16.02% of the stock is owned by institutional investors and hedge funds.

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.