Net Element (NASDAQ:NETE) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday, ValuEngine reports.

NASDAQ NETE traded up $2.02 during trading hours on Thursday, hitting $5.32. 17,638,648 shares of the company’s stock were exchanged, compared to its average volume of 162,863. The stock has a 50-day simple moving average of $3.80 and a 200 day simple moving average of $4.97. Net Element has a 1-year low of $3.00 and a 1-year high of $10.60. The firm has a market cap of $12.89 million, a price-to-earnings ratio of -4.75 and a beta of 1.28. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.95.

An institutional investor recently raised its position in Net Element stock. Vanguard Group Inc. boosted its position in Net Element Inc (NASDAQ:NETE) by 9.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 168,041 shares of the company’s stock after acquiring an additional 14,434 shares during the period. Vanguard Group Inc. owned 4.08% of Net Element worth $768,000 as of its most recent SEC filing. 6.08% 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.

Read More: How does a reverse stock split work?

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

Receive News & Ratings for Net Element Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Net Element and related companies with's FREE daily email newsletter.