NetSol Technologies, Inc. (NASDAQ:NTWK) Short Interest Up 306.8% in May

NetSol Technologies, Inc. (NASDAQ:NTWKGet Rating) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 167,600 shares, a growth of 306.8% from the May 15th total of 41,200 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average daily volume of 10,500 shares, the days-to-cover ratio is presently 16.0 days.

Large investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC acquired a new position in shares of NetSol Technologies during the 4th quarter worth about $264,000. Marshall Wace LLP grew its position in shares of NetSol Technologies by 692.5% during the 1st quarter. Marshall Wace LLP now owns 50,340 shares of the software maker’s stock worth $328,000 after buying an additional 43,988 shares during the period. Renaissance Technologies LLC grew its position in shares of NetSol Technologies by 1.8% during the 4th quarter. Renaissance Technologies LLC now owns 667,701 shares of the software maker’s stock worth $2,644,000 after buying an additional 11,900 shares during the period. Finally, Citadel Advisors LLC acquired a new position in shares of NetSol Technologies during the 2nd quarter worth about $52,000. 29.94% of the stock is owned by hedge funds and other institutional investors.

Separately, StockNews.com initiated coverage on NetSol Technologies in a report on Monday, June 6th. They set a “buy” rating for the company.

Shares of NASDAQ:NTWK opened at $3.25 on Friday. The stock has a market capitalization of $36.57 million, a P/E ratio of 10.83 and a beta of 0.82. NetSol Technologies has a 1-year low of $2.74 and a 1-year high of $5.65. The business has a 50-day moving average price of $3.54 and a two-hundred day moving average price of $3.86.

NetSol Technologies (NASDAQ:NTWKGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The software maker reported ($0.02) earnings per share for the quarter. The firm had revenue of $14.81 million for the quarter. NetSol Technologies had a return on equity of 4.19% and a net margin of 5.49%.

About NetSol Technologies (Get Rating)

NetSol Technologies, Inc designs, develops, markets, and exports software products 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. Its NFS Ascent constituent applications include Omni Point of Sale, a web-based application; Contract Management System (CMS), an application for managing and maintaining credit contracts; Wholesale Finance System (WFS), a system for automating and managing the lifecycle of wholesale finance; Dealer Auditor Access System, a web-based solution that could be used in conjunction with WFS or any third-party wholesale finance system; NFS Ascent On The Cloud, a cloud-version of NFS Ascent; and NFS Digital solutions covering Self Point of Sale, Mobile Account, Mobile Point of Sale, Mobile Dealer, Mobile Auditor, Mobile Collector, and Mobile Field Investigator.

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