NetSol Technologies (NASDAQ:NTWK) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• NetSol Technologies' shares crossed above the 200-day moving average, reaching a high of $4.70 before trading at $4.53.
• Analysts maintain an average rating of "Hold" for the stock, with Weiss Ratings reaffirming a "hold (c-)" rating recently.
• The company reported $0.22 earnings per share and $18.40 million in revenue for the latest quarter, with a net margin of 4.46% and return on equity of 7.40%.

Shares of NetSol Technologies Inc. (NASDAQ:NTWK - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.38 and traded as high as $4.70. NetSol Technologies shares last traded at $4.53, with a volume of 194,776 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of NetSol Technologies in a research report on Saturday, September 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold".

NetSol Technologies Price Performance

The stock's fifty day simple moving average is $4.36 and its 200-day simple moving average is $3.38. The firm has a market cap of $53.41 million, a PE ratio of 18.12 and a beta of 1.10.

NetSol Technologies (NASDAQ:NTWK - Get Free Report) last announced its quarterly earnings data on Monday, September 29th. The software maker reported $0.22 earnings per share for the quarter. The firm had revenue of $18.40 million for the quarter. NetSol Technologies had a net margin of 4.46% and a return on equity of 7.40%.

Insider Activity

In other news, President Naeem Ghauri acquired 18,279 shares of NetSol Technologies stock in a transaction dated Monday, July 14th. The stock was purchased at an average cost of $3.85 per share, for a total transaction of $70,374.15. Following the completion of the purchase, the president directly owned 459,853 shares in the company, valued at $1,770,434.05. This trade represents a 4.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NetSol Technologies

A number of institutional investors have recently bought and sold shares of NTWK. Bridgeway Capital Management LLC lifted its stake in NetSol Technologies by 9.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 53,708 shares of the software maker's stock valued at $167,000 after acquiring an additional 4,816 shares during the period. PFG Investments LLC purchased a new position in shares of NetSol Technologies during the second quarter worth $78,000. Finally, Squarepoint Ops LLC acquired a new position in NetSol Technologies during the fourth quarter valued at $28,000. 16.02% of the stock is owned by hedge funds and other institutional investors.

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.

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