Net Element (NASDAQ:NETE) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Thursday, September 13th.
Shares of NASDAQ:NETE traded down $0.39 on Thursday, reaching $4.25. 59,900 shares of the company traded hands, compared to its average volume of 433,672. Net Element has a 52 week low of $3.47 and a 52 week high of $33.51. The stock has a market capitalization of $20.80 million, a P/E ratio of -0.88 and a beta of 0.23. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.47.
Net Element (NASDAQ:NETE) last announced its quarterly earnings data on Tuesday, August 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.10. Net Element had a negative return on equity of 88.17% and a negative net margin of 13.22%. The firm had revenue of $16.47 million for the quarter, compared to analysts’ expectations of $17.10 million. As a group, research analysts predict that Net Element will post -1.6 EPS for the current year.
In other news, Director Howard Ash sold 4,895 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $6.21, for a total transaction of $30,397.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 27.93% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of Net Element by 57.2% in the second quarter. BlackRock Inc. now owns 21,839 shares of the company’s stock worth $161,000 after purchasing an additional 7,944 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Net Element in the second quarter worth about $180,000. Finally, Jane Street Group LLC grew its stake in shares of Net Element by 39.1% in the first quarter. Jane Street Group LLC now owns 35,583 shares of the company’s stock worth $248,000 after purchasing an additional 10,008 shares during the last quarter. 3.18% of the stock is currently owned by institutional investors.
Net Element Company Profile
Net Element, Inc operates as a financial technology and value-added solutions company. It operates in two segments, North American Transaction Solutions, and International Transaction Solutions. The company offers a range of payment acceptance and processing services that enable merchants of various sizes to accept and process approximately 100 payment options, including credit, debit, prepaid, and alternative payments; and value-added services and technologies, such as integrated payment technologies, point-of-sale solutions (POS), security solutions, fraud management, information solutions, and analytical tools.
Further Reading: Initial Public Offering (IPO)
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