Net Element Inc. (NETE) Looks Ready for Growth Despite -16.34% Change This Year

Net Element Inc. (NASDAQ: NETE) is -16.34% lower on its value in year-to-date trading and has touched a low of $1.57 and a high of $20.08 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NETE stock was last observed hovering at around $11.28 in the last trading session, with the day’s gains setting it 0.39% off its average median price target of $30.00 for the next 12 months. It is also 61.1% off the consensus price target high of $30.00 offered by 0 analysts, but current levels are 61.1% higher than the price target low of $30.00 for the same period.

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Currently trading at $11.67, the stock is -0.51% and -6.10% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.62 million and changing 3.46% at the moment leaves the stock 10.58% off its SMA200. NETE registered 629.37% gain for a year compared to 6-month gain of 50.97%. The firm has a 50-day simple moving average (SMA 50) of $11.94 and a 200-day simple moving average (SMA200) of $10.72.

The stock witnessed a 31.27% loss in the last 1 month and extending the period to 3 months gives it a -5.51%, and is 9.17% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.24% over the week and 9.91% over the month.

Net Element Inc. (NETE) has around 82 employees, a market worth around $53.57M and $62.90M in sales. Distance from 52-week low is 643.31% and -41.88% from its 52-week high. The company has generated returns on investments over the last 12 months (-35.70%).

Net Element Inc. is expected to release its quarterly report on 08/19/2021 and quarterly earnings per share for the current quarter are estimated at $0.The EPS is expected to grow by 89.00% this year, but quarterly earnings will post 3.50% year-over-year.

Net Element Inc. (NETE) Top Institutional Holders

21 institutions hold shares in Net Element Inc. (NETE), with 714.83k shares held by insiders accounting for 13.73% while institutional investors hold 17.04% of the company’s shares. The shares outstanding are 4.89M, and float is at 4.13M with Short Float at 10.40%. Institutions hold 14.70% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 0.2 million shares valued at $2.77 million. The investor’s holdings represent 3.81% of the NETE Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 74958.0 shares valued at $1.05 million to account for 1.44% of the shares outstanding. The other top investors are Marshall Wace LLP which holds 61786.0 shares representing 1.19% and valued at over $0.86 million, while SG Americas Securities, LLC holds 1.05% of the shares totaling 54752.0 with a market value of $0.76 million.

Net Element Inc. (NETE) Insider Activity

A total of 5 insider transactions have happened at Net Element Inc. (NETE) in the last six months, with sales accounting for 0 and purchases happening 5 times.

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Net Element Inc. (NETE): Who are the competitors?

The company’s main competitors (and peers) include Park City Group Inc. (PCYG) that is trading 60.00% up over the past 12 months. Short interest in the company’s stock has risen 47.66% from the last report on Feb 11, 2021 to stand at a total of 0.22 million short shares sold with a short interest ratio of 0.49.

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