Short Interest in NetSol Technologies Inc. (NASDAQ:NTWK) Declines By 21.1%

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NetSol Technologies Inc. (NASDAQ:NTWK) was the target of a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 41,200 shares, a decline of 21.1% from the July 15th total of 52,200 shares. Based on an average daily volume of 21,700 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.4% of the shares of the company are sold short.

In other news, Director Naeem Ghauri purchased 5,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were acquired at an average price of $5.41 per share, for a total transaction of $27,050.00. Following the purchase, the director now owns 487,890 shares in the company, valued at $2,639,484.90. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 14.28% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Moab Capital Partners LLC boosted its stake in shares of NetSol Technologies by 0.4% in the second quarter. Moab Capital Partners LLC now owns 879,885 shares of the software maker’s stock worth $4,919,000 after buying an additional 3,569 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of NetSol Technologies by 3.1% in the second quarter. Renaissance Technologies LLC now owns 504,013 shares of the software maker’s stock worth $2,817,000 after buying an additional 14,993 shares during the last quarter. Vanguard Group Inc. boosted its position in NetSol Technologies by 1.0% during the second quarter. Vanguard Group Inc. now owns 466,748 shares of the software maker’s stock worth $2,609,000 after purchasing an additional 4,500 shares in the last quarter. BlackRock Inc. boosted its position in NetSol Technologies by 1.2% during the second quarter. BlackRock Inc. now owns 342,983 shares of the software maker’s stock worth $1,918,000 after purchasing an additional 4,086 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in NetSol Technologies by 98.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 164,198 shares of the software maker’s stock worth $1,010,000 after purchasing an additional 81,352 shares in the last quarter. Hedge funds and other institutional investors own 31.36% of the company’s stock.

Shares of NTWK traded down $0.19 during mid-day trading on Tuesday, reaching $5.39. The company had a trading volume of 6,768 shares, compared to its average volume of 38,019. NetSol Technologies has a 52-week low of $5.12 and a 52-week high of $10.52. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $62.92 million, a P/E ratio of 14.18, a PEG ratio of 0.54 and a beta of 0.50. The stock has a 50 day moving average of $5.80 and a two-hundred day moving average of $6.47.

Several research firms have weighed in on NTWK. ValuEngine downgraded NetSol Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. TheStreet downgraded NetSol Technologies from a “b-” rating to a “c+” rating in a research note on Monday, May 20th.

NetSol Technologies Company Profile

NetSol Technologies, Inc designs, develops, markets, and exports software products to the automobile financing and leasing, banking, and financial services industries worldwide. It also provides system integration, consulting, and IT products and services. The company offers NetSol Financial Suite (NFS), an end-to-end solution covering leasing and finance cycle for the asset finance industry; and NFS Ascent platform, a lease accounting and contract processing engine.

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