Short Interest in NetSol Technologies Inc. (NASDAQ:NTWK) Increases By 459.6%

Key Points

• Short interest in NetSol Technologies Inc. increased by a staggering 459.6% in September, with 78,900 shares sold short compared to 14,100 shares at the end of August.
• President Naeem Ghauri purchased 18,279 shares of the company at $3.85 each, boosting his ownership by 4.14%, which aligns with a trend of significant insider buying.
• NetSol Technologies' stock rose by 7.6%, trading at $5.11 with a market capitalization of $59.84 million and an earning per share (EPS) of $0.22 reported in the recent quarterly earnings.

NetSol Technologies Inc. (NASDAQ:NTWK - Get Free Report) saw a significant growth in short interest in September. As of September 15th, there was short interest totaling 78,900 shares, a growth of 459.6% from the August 31st total of 14,100 shares. Based on an average daily volume of 84,700 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.9% of the shares of the stock are sold short. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 84,700 shares, the days-to-cover ratio is currently 0.9 days.

Insider Transactions at NetSol Technologies

In other NetSol Technologies news, President Naeem Ghauri bought 18,279 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was bought at an average price of $3.85 per share, for a total transaction of $70,374.15. Following the completion of the acquisition, the president directly owned 459,853 shares in the company, valued at $1,770,434.05. The trade was a 4.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased a total of 28,304 shares of company stock valued at $105,766 over the last ninety days. 13.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

NetSol Technologies Stock Up 7.6%

NASDAQ NTWK traded up $0.36 during trading on Wednesday, hitting $5.11. 91,926 shares of the stock traded hands, compared to its average volume of 46,785. The company has a market capitalization of $59.84 million, a P/E ratio of 20.44 and a beta of 1.06. The firm has a 50-day simple moving average of $4.33 and a 200-day simple moving average of $3.31. NetSol Technologies has a 12-month low of $2.14 and a 12-month high of $5.75.

NetSol Technologies (NASDAQ:NTWK - Get Free Report) last released its quarterly earnings results on Monday, September 29th. The software maker reported $0.22 EPS for the quarter. The firm had revenue of $18.40 million during the quarter. NetSol Technologies had a return on equity of 7.55% and a net margin of 4.46%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.