Net Element Inc (NASDAQ:NETE) shares were up 7.5% on Monday . The company traded as high as $5.71 and last traded at $5.62, approximately 223,564 shares were traded during trading. An increase of 8% from the average daily volume of 207,641 shares. The stock had previously closed at $5.23.
Separately, ValuEngine cut shares of Net Element from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th.
The stock has a market capitalization of $23.96 million, a PE ratio of -5.21 and a beta of 1.29. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.95. The company’s 50 day simple moving average is $4.40 and its 200 day simple moving average is $4.84.
A hedge fund recently raised its stake in Net Element stock. Vanguard Group Inc. boosted its position in Net Element Inc (NASDAQ:NETE) by 9.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 168,041 shares of the company’s stock after acquiring an additional 14,434 shares during the period. Vanguard Group Inc. owned about 4.08% of Net Element worth $768,000 at the end of the most recent reporting period. 6.36% of the stock is owned by institutional investors.
About Net Element (NASDAQ:NETE)
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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