Is Net Element Inc. (NASDAQ: NETE) Back In The Buying Zone?

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    Victory Capital Management, Inc. recently announced the acquisition of new stake in Net Element Inc. (NASDAQ:NETE). This fresh investment now brings its stake to 0.02% valued currently at $5644.0. In addition, Wells Fargo Bank, NA (Private Ban. raised its holdings by 24.0 to 24.0 shares.

    With over 0.22 million Net Element Inc. (NETE) shares trading Thursday and a closing price of $15.76 on the day, the dollar volume was approximately $3.41 million. The shares have shown a negative weekly performance of -0.88% and its price on 07/30/20 lost nearly -0.13%. Currently, there are 4.12M common shares owned by the public and among those 3.52M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for NETE have a consensus price objective of $25.00. The analysts have set the share’s price value over the next 12 months at a high of $25.00 and a low of $25.00 should the stock experience a downside. The average price target is 0.25% above its last price level and an upside to the estimated low will see the stock gain 36.96% over that period. But an upside of 36.96% will see the stock hit the forecast high price target while mean target price for the stock is $25.00.

    Insiders at the company have transacted a total of 126 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 22,872 shares. Insider sales of the common stock occurred on 113 occasions, with total insider shares sold totaling 51,748 shares.

    The top 3 mutual fund holders in Net Element Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and DFA US Small Cap Portfolio. Vanguard Total Stock Market Index owns 0.14 million shares of the company’s stock, all valued at over $1.18 million. DFA US Small Cap Portfolio sold 5395.0 shares to bring its total holdings to over 16251.0 shares at a value of $0.14 million. DFA US Small Cap Portfolio now owns shares totaling to 0.39% of the shares outstanding.

    Shares of Net Element Inc. (NASDAQ: NETE) opened at $15.67, down -$0.11 from a prior closing price of $15.78. However, the script later closed the day at $15.76, down -0.13%. The company’s stock has a 5-day price change of -0.88% and 616.36% over the past three months. NETE shares are trading 390.97% year to date (YTD), with the 12-month market performance up to 328.26% higher. It has a 12-month low price of $1.47 and touched a high of $19.25 over the same period. Currently, 0.22 million shares have been traded, compared to an average intraday trading volume of 1.63 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.18%, 94.70%, and 261.33% respectively.

    Institutional ownership of Net Element Inc. (NASDAQ: NETE) shares accounts for 6.50% of the company’s 4.12M shares outstanding. Mutual fund holders own 15.02%, while other institutional holders and individual stakeholders account for 5.13% and 1.30% respectively.

    It has a market capitalization of $66.82M and a beta (3y monthly) value of 2.05. The earnings-per-share (ttm) stands at -$1.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.82% over the week and 16.41% over the month.

    Analysts forecast that Net Element Inc. (NETE) will achieve an EPS of $0 for the current quarter, -$0.94 for the next quarter and -$0.87 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to decrease by -25.20%, and 49.40% over the next financial year.

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