NetSol Technologies (NASDAQ:NTWK) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

NetSol Technologies Inc. (NASDAQ:NTWK) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.59 and traded as high as $2.98. NetSol Technologies shares last traded at $2.92, with a volume of 14,577 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen initiated coverage on shares of NetSol Technologies in a research report on Wednesday, May 21st. They set a “buy” rating on the stock.

NetSol Technologies Stock Performance

The stock’s 50-day simple moving average is $2.70 and its 200-day simple moving average is $2.59. The firm has a market capitalization of $34.19 million, a PE ratio of 146.07 and a beta of 1.01.

NetSol Technologies (NASDAQ:NTWK) last announced its earnings results on Wednesday, May 14th. The software maker reported $0.12 EPS for the quarter. NetSol Technologies had a net margin of 0.41% and a return on equity of 0.68%. The firm had revenue of $17.54 million for the quarter.

Institutional Trading of NetSol Technologies

A number of hedge funds have recently modified their holdings of the business. Topline Capital Management LLC bought a new stake in shares of NetSol Technologies during the 4th quarter valued at $1,351,000. Dimensional Fund Advisors LP boosted its holdings in shares of NetSol Technologies by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 109,247 shares of the software maker’s stock valued at $286,000 after buying an additional 4,199 shares in the last quarter. Perritt Capital Management Inc boosted its stake in NetSol Technologies by 142.3% in the 4th quarter. Perritt Capital Management Inc now owns 50,000 shares of the software maker’s stock worth $131,000 after purchasing an additional 29,361 shares in the last quarter. Wolverine Trading LLC grew its position in NetSol Technologies by 184.8% during the 4th quarter. Wolverine Trading LLC now owns 12,883 shares of the software maker’s stock valued at $36,000 after purchasing an additional 28,083 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in NetSol Technologies during the 4th quarter valued at about $28,000. Institutional investors own 16.02% of the company’s stock.

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.