NetSol Technologies (NASDAQ:NTWK) Releases Quarterly Earnings Results

NetSol Technologies (NASDAQ:NTWK) released its earnings results on Wednesday. The software maker reported ($0.20) earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $15.01 million for the quarter. NetSol Technologies had a return on equity of 7.40% and a net margin of 4.46%.

NetSol Technologies Trading Down 23.4%

NASDAQ:NTWK traded down $0.93 during trading hours on Wednesday, hitting $3.03. 490,827 shares of the stock were exchanged, compared to its average volume of 54,130. The firm’s fifty day moving average price is $4.51 and its 200 day moving average price is $3.76. The company has a market cap of $35.65 million, a P/E ratio of 12.10 and a beta of 1.05. NetSol Technologies has a 52-week low of $2.14 and a 52-week high of $5.75.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NetSol Technologies stock. Bridgeway Capital Management LLC boosted its position in shares of NetSol Technologies Inc. (NASDAQ:NTWK) by 9.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,708 shares of the software maker’s stock after acquiring an additional 4,816 shares during the quarter. Bridgeway Capital Management LLC owned 0.46% of NetSol Technologies worth $167,000 at the end of the most recent quarter. 16.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NTWK. Wall Street Zen upgraded shares of NetSol Technologies to a “strong-buy” rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetSol Technologies in a research report on Tuesday, October 14th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, NetSol Technologies currently has an average rating of “Hold”.

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.