NetSol Technologies Inc. (NASDAQ:NTWK) Shares Shorted: Short Interest Up 94.7% in October

NetSol Technologies Inc. (NASDAQ:NTWK) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 95,199 shares, an increase of 94.7% from the September 30th total of 48,894 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 158,048 shares, the short-interest ratio is currently 0.6 days.

NetSol Technologies Stock Performance

NTWK opened at $8.00 on Tuesday. The stock has a market capitalization of $95.62 million, a price-to-earnings ratio of 32.00 and a beta of 0.94. NetSol Technologies has a fifty-two week low of $2.73 and a fifty-two week high of $8.46. The company has a fifty day moving average of $5.49 and a two-hundred day moving average of $4.29.

NetSol Technologies (NASDAQ:NTWK) last issued its quarterly earnings results on Monday, October 5th. The software maker reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.24. The company had revenue of $20.72 million for the quarter, compared to the consensus estimate of $15.10 million. NetSol Technologies had a return on equity of 6.79% and a net margin of 4.02%. On average, equities research analysts forecast that NetSol Technologies will post 0.43 earnings per share for the current year.

Institutional Investors Weigh In On NetSol Technologies

A hedge fund recently bought a new stake in NetSol Technologies stock. SBI Securities Co. Ltd. purchased a new position in NetSol Technologies Inc. (NASDAQ:NTWK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,500 shares of the software maker’s stock, valued at approximately $52,000. SBI Securities Co. Ltd. owned approximately 0.08% of NetSol Technologies as of its most recent filing with the Securities and Exchange Commission. 16.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of NetSol Technologies to a “strong-buy” rating in a research note on Saturday. Noble Financial started coverage on shares of NetSol Technologies in a research report on Wednesday, October 21st. They issued an “outperform” rating and a $9.00 price objective on the stock. Weiss Ratings upgraded NetSol Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. Finally, Zacks Research raised shares of NetSol Technologies to a “hold” rating in a report on Thursday, October 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

About NetSol Technologies

NetSol Technologies, Inc is a global provider of enterprise software and information technology services, with a primary focus on the asset finance and leasing industry. The company serves vehicle manufacturers, banks, financial institutions, equipment lessors and other organizations that manage commercial lending, leasing and financing operations.

Its software offerings are designed to support the full lifecycle of financing transactions, including origination, credit and contract management, billing, accounting, asset management, collections and portfolio administration.