Net Element (NASDAQ:NETE) Upgraded to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Net Element (NASDAQ:NETE) from a buy rating to a strong-buy rating in a report published on Thursday, ValuEngine reports.

NETE traded down $0.51 during trading on Thursday, reaching $4.81. The company had a trading volume of 36,071 shares, compared to its average volume of 16,735. The firm’s 50-day simple moving average is $3.80 and its 200 day simple moving average is $4.97. The company has a market cap of $21.92 million, a price-to-earnings ratio of -4.21 and a beta of 1.28. Net Element has a 12-month low of $3.00 and a 12-month high of $10.60. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.87 and a current ratio of 0.87.

An institutional investor recently raised its position in Net Element stock. Vanguard Group Inc. raised its holdings in shares of Net Element Inc (NASDAQ:NETE) by 9.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,041 shares of the company’s stock after acquiring an additional 14,434 shares during the quarter. Vanguard Group Inc. owned approximately 4.08% of Net Element worth $768,000 at the end of the most recent quarter. 6.08% of the stock is currently owned by hedge funds and other institutional investors.

Net Element Company Profile

Net Element, Inc operates as a financial technology and value-added solutions company. It operates in two segments, North American Transaction Solutions, and International Transaction Solutions. The company offers a range of payment acceptance and processing services that enable merchants of various sizes to accept and process approximately 100 payment options, including credit, debit, prepaid, and alternative payments; and value-added services and technologies, such as integrated payment technologies, point-of-sale solutions (POS), security solutions, fraud management, information solutions, and analytical tools.

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