NetSol Technologies Inc. (NASDAQ:NTWK) Stock Short Interest Report for October

Key Points

• Short interest nearly doubled in October, rising 94.7% to 95,199 shares, or approximately 0.9% of NetSol’s outstanding shares. The stock’s days-to-cover ratio stood at 0.6 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.
• Analyst sentiment was generally positive: the consensus rating was “Moderate Buy” with a $9.00 average price target, while the stock opened at $7.68.

NetSol Technologies Inc. (NASDAQ:NTWK - Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 95,199 shares, a growth of 94.7% from the September 30th total of 48,894 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily volume of 158,048 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in NetSol Technologies stock. SBI Securities Co. Ltd. acquired a new position in shares of NetSol Technologies Inc. (NASDAQ:NTWK - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,500 shares of the software maker's stock, valued at approximately $52,000. SBI Securities Co. Ltd. owned 0.08% of NetSol Technologies as of its most recent SEC filing. 16.02% of the stock is owned by institutional investors.

NetSol Technologies Price Performance

Shares of NASDAQ:NTWK opened at $7.68 on Friday. The business's 50 day simple moving average is $5.42 and its 200 day simple moving average is $4.26. NetSol Technologies has a 1 year low of $2.73 and a 1 year high of $8.46. The company has a market capitalization of $91.78 million, a P/E ratio of 30.72 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 for the quarter, beating the consensus estimate of $0.08 by $0.24. The firm had revenue of $20.72 million during the quarter, compared to analysts' expectations of $15.10 million. NetSol Technologies had a return on equity of 6.79% and a net margin of 4.02%. On average, sell-side analysts anticipate that NetSol Technologies will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NTWK. Zacks Research raised NetSol Technologies to a "hold" rating in a report on Thursday, October 22nd. Noble Financial started coverage on shares of NetSol Technologies in a research note on Wednesday, October 21st. They issued an "outperform" rating and a $9.00 price target on the stock. Wall Street Zen raised shares of NetSol Technologies to a "strong-buy" rating in a research report on Saturday. Finally, Weiss Ratings upgraded shares of NetSol Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 14th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $9.00.

NetSol Technologies Company Profile

NetSol Technologies, Inc is a global provider of enterprise software and information technology services, with a primary focus on the asset finance and leasing industry. The company serves vehicle manufacturers, banks, financial institutions, equipment lessors and other organizations that manage commercial lending, leasing and financing operations.

Its software offerings are designed to support the full lifecycle of financing transactions, including origination, credit and contract management, billing, accounting, asset management, collections and portfolio administration.

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