StockNews.com Initiates Coverage on NetSol Technologies (NASDAQ:NTWK)

StockNews.com assumed coverage on shares of NetSol Technologies (NASDAQ:NTWK) in a report issued on Monday. The firm set a “buy” rating on the software maker’s stock.

NetSol Technologies Stock Performance

NASDAQ NTWK opened at $2.60 on Monday. The firm’s 50 day simple moving average is $2.71 and its 200 day simple moving average is $2.79. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.01. NetSol Technologies has a 1 year low of $1.99 and a 1 year high of $3.34. The firm has a market capitalization of $29.84 million, a price-to-earnings ratio of 37.14 and a beta of 1.06.

Institutional Inflows and Outflows

An institutional investor recently raised its position in NetSol Technologies stock. Geode Capital Management LLC grew its stake in shares of NetSol Technologies, Inc. (NASDAQ:NTWK) by 7.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 83,386 shares of the software maker’s stock after buying an additional 5,882 shares during the quarter. Geode Capital Management LLC owned approximately 0.73% of NetSol Technologies worth $238,000 as of its most recent SEC filing. 16.02% of the stock is owned by hedge funds and other 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.