NetSol Technologies Inc. (NASDAQ:NTWK) Sees Large Increase in Short Interest

Key Points

• Short interest surged 188.1% to 48,894 shares as of September 30, representing approximately 0.5% of NetSol Technologies’ outstanding shares; the short-interest ratio stood at 0.3 days.
• NetSol reported quarterly EPS of $0.32, exceeding the $0.08 consensus estimate, while revenue of $20.72 million also surpassed expectations of $15.10 million.
• The stock opened at $5.93, near its 52-week high of $6.38. Analysts maintained an overall “Hold” rating, while institutional ownership stood at 16.02%.

NetSol Technologies Inc. (NASDAQ:NTWK - Get Free Report) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 48,894 shares, an increase of 188.1% from the September 15th total of 16,969 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average trading volume of 148,585 shares, the short-interest ratio is presently 0.3 days.

NetSol Technologies Price Performance

NASDAQ:NTWK opened at $5.93 on Monday. The firm's fifty day moving average price is $4.53 and its 200 day moving average price is $4.25. NetSol Technologies has a 1-year low of $2.73 and a 1-year high of $6.38. The firm has a market cap of $70.86 million, a price-to-earnings ratio of 23.72 and a beta of 0.94.

NetSol Technologies (NASDAQ:NTWK - Get Free Report) last announced its quarterly earnings data on Monday, October 5th. The software maker reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.24. NetSol Technologies had a net margin of 4.02% and a return on equity of 6.79%. The company had revenue of $20.72 million for the quarter, compared to analysts' expectations of $15.10 million.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of NetSol Technologies from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company has an average rating of "Hold".

Institutional Inflows and Outflows

An institutional investor recently raised its stake in NetSol Technologies stock. Empowered Funds LLC grew its holdings in shares of NetSol Technologies Inc. (NASDAQ:NTWK - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,151 shares of the software maker's stock after purchasing an additional 5,624 shares during the period. Empowered Funds LLC owned approximately 0.57% of NetSol Technologies worth $231,000 at the end of the most recent reporting period. 16.02% of the stock is currently owned by institutional investors.

About NetSol Technologies

NetSol Technologies, Inc is a global provider of enterprise software and technology services focused primarily on the asset finance and leasing industry. The company develops solutions that help banks, captive finance companies, equipment manufacturers and other organizations manage lending, leasing and financing operations.

Its product portfolio includes the NFS Ascent platform, a software suite designed to support the lifecycle of asset finance transactions, including origination, credit assessment, contract management, billing, accounting and portfolio administration.

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