StockNews.com Initiates Coverage on NetSol Technologies (NASDAQ:NTWK)

StockNews.com started coverage on shares of NetSol Technologies (NASDAQ:NTWK) in a report released on Sunday. The brokerage issued a buy rating on the software maker’s stock.

NetSol Technologies Price Performance

NASDAQ NTWK opened at $2.70 on Friday. The company’s 50 day simple moving average is $2.74 and its two-hundred day simple moving average is $2.71. NetSol Technologies has a 1 year low of $1.72 and a 1 year high of $3.10. The stock has a market capitalization of $30.79 million, a PE ratio of -7.11 and a beta of 1.07.

Hedge Funds Weigh In On NetSol Technologies

An institutional investor recently raised its position in NetSol Technologies stock. Perritt Capital Management Inc. grew its holdings in shares of NetSol Technologies, Inc. (NASDAQ:NTWK) by 62.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,639 shares of the software maker’s stock after acquiring an additional 7,900 shares during the quarter. Perritt Capital Management Inc. owned about 0.18% of NetSol Technologies worth $57,000 at the end of the most recent quarter. Hedge funds and other 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.