NetSol Technologies (NASDAQ:NTWK) Shares Pass Above 200-Day Moving Average of $2.59

NetSol Technologies, Inc. (NASDAQ:NTWK)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.59 and traded as high as $2.80. NetSol Technologies shares last traded at $2.76, with a volume of 9,719 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of NetSol Technologies in a research note on Saturday. They issued a “buy” rating on the stock.

NetSol Technologies Stock Performance

The stock has a market capitalization of $31.48 million, a PE ratio of -7.26 and a beta of 1.10. The stock’s 50 day moving average is $2.60 and its two-hundred day moving average is $2.59.

NetSol Technologies (NASDAQ:NTWK) last issued its quarterly earnings results on Monday, May 20th. The software maker reported $0.03 earnings per share for the quarter. The firm had revenue of $15.47 million for the quarter. NetSol Technologies had a negative net margin of 7.33% and a negative return on equity of 11.38%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NetSol Technologies stock. Perritt Capital Management Inc. raised its holdings in NetSol Technologies, Inc. (NASDAQ:NTWK) by 62.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,639 shares of the software maker’s stock after acquiring an additional 7,900 shares during the period. Perritt Capital Management Inc. owned approximately 0.18% of NetSol Technologies worth $57,000 at the end of the most recent quarter. 16.02% of the stock is owned by institutional investors.

About NetSol Technologies

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.