StockNews.com Initiates Coverage on NetSol Technologies (NASDAQ:NTWK)

StockNews.com started coverage on shares of NetSol Technologies (NASDAQ:NTWK) in a research note published on Sunday. The brokerage issued a buy rating on the software maker’s stock.

NetSol Technologies Stock Down 1.8 %

NTWK opened at $2.70 on Friday. The business’s fifty day simple moving average is $2.74 and its 200 day simple moving average is $2.71. NetSol Technologies has a 52 week low of $1.72 and a 52 week high of $3.10. The stock has a market cap of $30.79 million, a PE ratio of -7.11 and a beta of 1.07.

Hedge Funds Weigh In On NetSol Technologies

A hedge fund recently raised its stake in NetSol Technologies stock. Perritt Capital Management Inc. grew its position in shares of NetSol Technologies, Inc. (NASDAQ:NTWK) by 62.0% during the 1st quarter, according to its most recent 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 approximately 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.

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.