NetSol Technologies (NASDAQ:NTWK) Shares Break Below 50 Day Moving Average – What’s Next?

NetSol Technologies Inc. (NASDAQ:NTWK)’s stock price passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $5.91 and traded as low as $5.29. NetSol Technologies shares last traded at $5.28, with a volume of 217,303 shares traded.

Wall Street Analyst Weigh In

Several research firms recently commented on NTWK. Zacks Research raised shares of NetSol Technologies to a “hold” rating in a research report on Thursday, October 22nd. Weiss Ratings upgraded NetSol Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Noble Financial initiated coverage on NetSol Technologies in a research note on Wednesday, October 21st. They issued an “outperform” rating and a $9.00 price target on the stock. Finally, Wall Street Zen raised NetSol Technologies to a “strong-buy” rating in a research note on Saturday, October 31st. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.00.

NetSol Technologies Trading Down 23.4%

The stock has a market cap of $63.10 million, a P/E ratio of 21.12 and a beta of 0.91. The company has a 50 day simple moving average of $5.91 and a 200 day simple moving average of $4.43.

NetSol Technologies (NASDAQ:NTWK) last released its quarterly earnings results on Thursday, November 12th. The software maker reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $16.41 million during the quarter, compared to the consensus estimate of $16.51 million. NetSol Technologies had a return on equity of 6.79% and a net margin of 4.02%. As a group, sell-side analysts expect that NetSol Technologies Inc. will post 0.43 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NetSol Technologies stock. Empowered Funds LLC boosted its holdings in NetSol Technologies Inc. (NASDAQ:NTWK) by 9.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,151 shares of the software maker’s stock after purchasing an additional 5,624 shares during the period. Empowered Funds LLC owned about 0.57% of NetSol Technologies worth $231,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 16.02% of the company’s stock.

About NetSol Technologies

NetSol Technologies, Inc. is a global provider of enterprise software and information technology services, with a primary focus on the asset finance and leasing industry. The company serves vehicle manufacturers, banks, financial institutions, equipment lessors and other organizations that manage commercial lending, leasing and financing operations. Its software offerings are designed to support the full lifecycle of financing transactions, including origination, credit and contract management, billing, accounting, asset management, collections and portfolio administration.