NetSol Technologies, Inc. (NASDAQ:NTWK) Short Interest Up 192.4% in March

NetSol Technologies, Inc. (NASDAQ:NTWK) saw 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 trading volume, of 21,700 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.3% of the company’s shares are sold short.

Analyst Ratings Changes

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

Hedge Funds Weigh In On NetSol Technologies

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 5,882 shares during the last quarter. Perritt Capital Management Inc lifted its stake in NetSol Technologies by 142.3% in the fourth quarter. Perritt Capital Management Inc now owns 50,000 shares of the software maker’s stock valued at $131,000 after buying an additional 29,361 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of 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 acquiring an additional 4,199 shares during the period. Topline Capital Management LLC purchased a new position in shares of NetSol Technologies during the fourth quarter worth approximately $1,351,000. Finally, Squarepoint Ops LLC acquired a new position in shares of NetSol Technologies in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 16.02% of the company’s stock.

NetSol Technologies Price Performance

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

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

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.