Net Element (NASDAQ:NETE) Sees Strong Trading Volume

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Shares of Net Element Inc (NASDAQ:NETE) saw unusually-high trading volume on Tuesday . Approximately 3,470,707 shares were traded during trading, an increase of 1,633% from the previous session’s volume of 200,267 shares.The stock last traded at $4.78 and had previously closed at $4.40.

Separately, ValuEngine upgraded Net Element from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 22nd.

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.95. The firm has a market cap of $19.44 million, a P/E ratio of -4.27 and a beta of 1.28. The company has a fifty day moving average price of $3.82 and a two-hundred day moving average price of $4.93.

A hedge fund recently raised its stake in Net Element stock. Vanguard Group Inc. increased its holdings in shares of Net Element Inc (NASDAQ:NETE) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,041 shares of the company’s stock after purchasing an additional 14,434 shares during the period. Vanguard Group Inc. owned approximately 4.08% of Net Element worth $768,000 at the end of the most recent quarter. Institutional investors and hedge funds own 6.08% of the company’s stock.

About Net Element (NASDAQ:NETE)

Net Element, Inc operates as a financial technology and value-added solutions company. It operates in two segments, North American Transaction Solutions, and International Transaction Solutions. The company offers a range of payment acceptance and processing services that enable merchants of various sizes to accept and process approximately 100 payment options, including credit, debit, prepaid, and alternative payments; and value-added services and technologies, such as integrated payment technologies, point-of-sale solutions (POS), security solutions, fraud management, information solutions, and analytical tools.

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