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Wednesday, October 4, 2023

Net Element Inc. (NASDAQ:NETE) Recent Earnings Shows Major Concern

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Net Element Inc. (NETE) shares are trading at lower $11.80.

To add more color to this target, the company’s high over the last year is $20.08 and the low is $1.47. Over the last 52 weeks, NETE is up 207.29% while the S&P 500 is up 15.91%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, NETE reported a profit of $2.17 million. Net Element Inc. also saw revenues increase to $16.73 million. In addition, NETE has free cash flow of -$0.85 million as of 09-2020. The company’s EBITDA came in at -$1.16 million which compares well with its peers.

NETE booked profit margins of -10.80%, its Return on Equity (ROE) is -204.40%, and its Return on Assets is -31.20%. All told, it is clear that, NETE needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. NETE has a short ratio of 0.41 and outstanding shares of 4.50M.

Company Outlook

NETE has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 5.08 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.61. Net Element Inc. NETE also noted assets of $22.57 million at the end of the last quarter. Investors should also keep an eye on sector updates as NETE has historically followed its peers on positive news.

All told, Net Element Inc. NETE has strung together solid data and demonstrated underlying fundamentals. At its current valuation, NETE represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Net Element Inc. NETE is now commanding a market cap of 43.78M and a float of 4.34M. NETE is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of NETE stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in NETE, either long or short, and we have not been compensated for this article.

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