Net Element (NETE) Cut to Buy at ValuEngine

ValuEngine cut shares of Net Element (NASDAQ:NETE) from a strong-buy rating to a buy rating in a report released on Thursday morning.

Shares of NETE opened at $5.80 on Thursday. Net Element has a one year low of $3.47 and a one year high of $33.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.27 and a quick ratio of 1.27.

Net Element (NASDAQ:NETE) last announced its quarterly earnings data on Tuesday, August 14th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.10. Net Element had a negative net margin of 13.22% and a negative return on equity of 88.17%. The company had revenue of $16.47 million during the quarter, compared to the consensus estimate of $17.10 million. analysts anticipate that Net Element will post -1.6 EPS for the current fiscal year.

In other news, Director Howard Ash sold 4,895 shares of Net Element stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $6.21, for a total value of $30,397.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 27.93% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP acquired a new stake in shares of Net Element during the 2nd quarter worth about $180,000. BlackRock Inc. lifted its stake in shares of Net Element by 57.2% during the 2nd quarter. BlackRock Inc. now owns 21,839 shares of the company’s stock worth $161,000 after buying an additional 7,944 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Net Element by 39.1% during the 1st quarter. Jane Street Group LLC now owns 35,583 shares of the company’s stock worth $248,000 after buying an additional 10,008 shares during the last quarter. 3.18% of the stock is 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: Price to Earnings Ratio (PE)

To view ValuEngine’s full report, visit ValuEngine’s official website.

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