NetSol Technologies (NASDAQ:NTWK) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• NetSol Technologies shares moved above their 200-day moving average on Wednesday, with the stock trading as high as $4.61 before last changing hands at $4.51. The 200-day moving average was $3.68.
• Wall Street sentiment remains neutral, as Weiss Ratings reaffirmed a “hold (c)” rating and MarketBeat shows an average analyst rating of “Hold.”
• The company posted better-than-expected quarterly results, reporting EPS of $0.11 versus the $0.08 estimate and revenue of $19.83 million, ahead of the $15.10 million consensus.

Shares of NetSol Technologies Inc. (NASDAQ:NTWK - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.68 and traded as high as $4.61. NetSol Technologies shares last traded at $4.51, with a volume of 9,581 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of NetSol Technologies in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold".

NetSol Technologies Price Performance

The firm has a market cap of $53.58 million, a PE ratio of 30.07 and a beta of 0.92. The firm's fifty day simple moving average is $4.34 and its two-hundred day simple moving average is $3.68. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.01.

NetSol Technologies (NASDAQ:NTWK - Get Free Report) last issued its earnings results on Thursday, May 14th. The software maker reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. NetSol Technologies had a net margin of 2.49% and a return on equity of 4.24%. The company had revenue of $19.83 million during the quarter, compared to the consensus estimate of $15.10 million.

Hedge Funds Weigh In On NetSol Technologies

A number of hedge funds have recently made changes to their positions in NTWK. Evernest Financial Advisors LLC purchased a new position in NetSol Technologies in the 4th quarter worth approximately $419,000. IFP Advisors Inc grew its holdings in NetSol Technologies by 33,588.0% during the 3rd quarter. IFP Advisors Inc now owns 16,844 shares of the software maker's stock valued at $80,000 after buying an additional 16,794 shares in the last quarter. Empowered Funds LLC grew its holdings in NetSol Technologies by 9.0% during the 1st quarter. Empowered Funds LLC now owns 68,151 shares of the software maker's stock valued at $231,000 after buying an additional 5,624 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of NetSol Technologies during the fourth quarter valued at approximately $82,000. Finally, Geode Capital Management LLC raised its position in shares of NetSol Technologies by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 115,169 shares of the software maker's stock valued at $349,000 after buying an additional 3,890 shares during the last quarter. Institutional investors own 16.02% of the company's stock.

About NetSol Technologies

NetSol Technologies, Inc is a publicly traded enterprise software provider specializing in asset finance and leasing solutions. Headquartered in Calabasas, California, the company was founded in 1997 by Najeeb Ghauri, who continues to serve as its chief executive officer. NetSol has built a reputation for delivering end-to-end digital solutions tailored to the finance, leasing, and rental industries, enabling clients to streamline operations, improve customer engagement, and accelerate business growth.

The company's flagship offering, NFS Ascent, is a configurable, modular platform that supports the entire contract lifecycle—from origination and credit approval through servicing and end-of-term processing.

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