Net Element Inc (NASDAQ:NETE)’s share price rose 3.2% during trading on Monday . The company traded as high as $9.18 and last traded at $8.09. Approximately 3,012 shares traded hands during trading, a decline of 98% from the average daily volume of 174,052 shares. The stock had previously closed at $8.36.
Separately, ValuEngine downgraded shares of Net Element from a “hold” rating to a “sell” rating in a research note on Friday, March 23rd.
The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market capitalization of $33.64 million, a P/E ratio of -1.62 and a beta of 0.67.
Net Element (NASDAQ:NETE) last posted its quarterly earnings data on Monday, May 14th. The company reported ($0.42) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.01. Net Element had a negative net margin of 14.46% and a negative return on equity of 125.43%. The company had revenue of $15.98 million during the quarter, compared to the consensus estimate of $14.20 million. equities research analysts forecast that Net Element Inc will post -1.57 EPS for the current year.
A hedge fund recently raised its stake in Net Element stock. Jane Street Group LLC lifted its holdings in shares of Net Element Inc (NASDAQ:NETE) by 39.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,583 shares of the company’s stock after buying an additional 10,008 shares during the period. Jane Street Group LLC owned about 0.92% of Net Element worth $248,000 at the end of the most recent quarter. Institutional investors and hedge funds own 4.01% of the company’s stock.
About Net Element
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.
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