Net Element (NASDAQ:NETE) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of Net Element (NASDAQ:NETE) from a hold rating to a buy rating in a research report sent to investors on Thursday, ValuEngine reports.

NASDAQ NETE traded up $0.07 during trading hours on Thursday, reaching $3.68. The company had a trading volume of 300 shares, compared to its average volume of 19,611. The firm has a 50-day moving average price of $4.10. Net Element has a 1-year low of $3.60 and a 1-year high of $10.60. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $14.85 million, a PE ratio of -3.24 and a beta of 1.29.

Net Element (NASDAQ:NETE) last posted its earnings results on Wednesday, May 15th. The company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.10). Net Element had a negative net margin of 6.86% and a negative return on equity of 41.31%. The company had revenue of $15.05 million during the quarter, compared to analyst estimates of $16.00 million. As a group, research analysts forecast that Net Element will post -1.27 EPS for the current fiscal year.

An institutional investor recently raised its position in Net Element stock. Jane Street Group LLC grew its holdings in shares of Net Element Inc (NASDAQ:NETE) by 43.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,541 shares of the company’s stock after purchasing an additional 6,776 shares during the period. Jane Street Group LLC owned about 0.58% of Net Element worth $129,000 as of its most recent SEC filing. 6.17% 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.

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

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