Short Interest in NetSol Technologies, Inc. (NASDAQ:NTWK) Decreases By 16.2%

NetSol Technologies, Inc. (NASDAQ:NTWK) was the recipient of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 17,100 shares, a decrease of 16.2% from the June 30th total of 20,400 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 19,900 shares, the short-interest ratio is presently 0.9 days.

Wall Street Analyst Weigh In

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

NetSol Technologies Stock Up 1.4 %

NetSol Technologies stock opened at $2.93 on Monday. NetSol Technologies has a 12 month low of $1.72 and a 12 month high of $3.10. The stock’s 50 day moving average is $2.67 and its 200-day moving average is $2.64.

NetSol Technologies (NASDAQ:NTWK) last posted its earnings results on Monday, May 20th. The software maker reported $0.03 EPS for the quarter. NetSol Technologies had a negative return on equity of 11.38% and a negative net margin of 7.33%. The company had revenue of $15.47 million for the quarter.

Hedge Funds Weigh In On NetSol Technologies

An institutional investor recently raised its position in NetSol Technologies stock. Perritt Capital Management Inc. grew its position in NetSol Technologies, Inc. (NASDAQ:NTWK) by 62.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,639 shares of the software maker’s stock after purchasing an additional 7,900 shares during the quarter. Perritt Capital Management Inc. owned about 0.18% of NetSol Technologies worth $57,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 16.02% of the company’s stock.

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.