Net Element, Inc. (NETE) Stock Rating Upgraded by ValuEngine
Net Element, Inc. (NASDAQ:NETE) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
Shares of Net Element (NASDAQ NETE) opened at 6.08 on Friday. The company has a 50 day moving average of $5.03 and a 200 day moving average of $6.38. Net Element has a 52-week low of $2.60 and a 52-week high of $15.40. The firm’s market capitalization is $115.52 million.
Net Element (NASDAQ:NETE) last issued its earnings results on Monday, August 14th. The company reported ($0.90) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.90). The company had revenue of $16.14 million for the quarter, compared to the consensus estimate of $15.10 million. Net Element had a negative return on equity of 191.07% and a negative net margin of 17.65%. On average, analysts anticipate that Net Element will post ($0.21) earnings per share for the current fiscal year.
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A hedge fund recently raised its stake in Net Element stock. Vanguard Group Inc. lifted its position in Net Element, Inc. (NASDAQ:NETE) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 187,898 shares of the company’s stock after buying an additional 3,332 shares during the quarter. Vanguard Group Inc. owned about 1.07% of Net Element worth $123,000 as of its most recent filing with the SEC. Institutional investors own 2.38% of the company’s stock.
Net Element Company Profile
Net Element, Inc operates as a financial technology and value-added solutions company worldwide. It operates in three segments: North America Transaction Solutions, Mobile Solutions, and Online Solutions. The North America Transaction Solutions segment provides technology and services that businesses require to accept cashless transaction for retail card-present, e-commerce, or card-not-present mail order/telephone order transactions; and Aptito, a cloud-based point of sale (POS) platform, which includes hospitality, mobile POS, and small to medium sized business retail POS applications, as well as offers mobile payment and merchant back office reporting services, and merchant performance analytical tools.
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