NetSol Technologies Inc. (NASDAQ:NTWK) was downgraded by TheStreet from a “c-” rating to a “d” rating in a research report issued to clients and investors on Thursday.

Separately, ValuEngine lowered shares of NetSol Technologies from a “hold” rating to a “sell” rating in a report on Friday, June 2nd.

Shares of NetSol Technologies (NASDAQ NTWK) traded up 1.43% during trading on Thursday, hitting $3.55. 46,923 shares of the company’s stock were exchanged. The stock has a market cap of $39.39 million, a PE ratio of 161.36 and a beta of 0.56. The stock’s 50-day moving average price is $4.35 and its 200-day moving average price is $4.48. NetSol Technologies has a 1-year low of $3.30 and a 1-year high of $6.65.

NetSol Technologies (NASDAQ:NTWK) last posted its earnings results on Wednesday, September 27th. The software maker reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.26). NetSol Technologies had a negative return on equity of 6.58% and a negative net margin of 7.95%. The company had revenue of $14.48 million during the quarter. On average, equities analysts expect that NetSol Technologies will post ($0.19) earnings per share for the current fiscal year.

NetSol Technologies declared that its board has approved a stock repurchase plan on Tuesday, July 18th that permits the company to repurchase 500,000 shares. This repurchase authorization permits the software maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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A hedge fund recently raised its stake in NetSol Technologies stock. Municipal Employees Retirement System of Michigan lifted its stake in shares of NetSol Technologies Inc. (NASDAQ:NTWK) by 25.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,250 shares of the software maker’s stock after acquiring an additional 15,380 shares during the quarter. Municipal Employees Retirement System of Michigan owned approximately 0.69% of NetSol Technologies worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 21.31% of the stock is owned by institutional investors.

About NetSol Technologies

NetSol Technologies, Inc is a provider of information technology (IT) and enterprise software solutions. The Company is engaged in the licensing, customization, enhancement and maintenance of its suite of financial applications under the brand names, NetSol Financial Suite (NFS) and NFS Ascent, for businesses in the lease and finance industry.

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