ARI Network Services Inc. (ARIS) Stock Price Up 3%
ARI Network Services Inc. (NASDAQ:ARIS) rose 3% during mid-day trading on Friday . The stock traded as high as $5.10 and last traded at $5.10, with a volume of 101,620 shares traded. The stock had previously closed at $4.95.
Separately, Zacks Investment Research raised shares of ARI Network Services from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research report on Thursday, June 16th.
The company has a 50-day moving average of $4.30 and a 200 day moving average of $4.18. The firm has a market capitalization of $88.05 million and a price-to-earnings ratio of 56.67.
ARI Network Services (NASDAQ:ARIS) last issued its quarterly earnings results on Thursday, June 9th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.03. The firm earned $12 million during the quarter, compared to analyst estimates of $11.82 million. On average, equities analysts forecast that ARI Network Services Inc. will post $0.10 EPS for the current fiscal year.
In other news, CEO Roy W. Olivier sold 7,998 shares of the business’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $4.35, for a total value of $34,791.30. Following the transaction, the chief executive officer now owns 169,297 shares in the company, valued at approximately $736,441.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A hedge fund recently raised its stake in ARI Network Services stock. Cowen Prime Services LLC boosted its position in ARI Network Services Inc. (NASDAQ:ARIS) by 19.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,259,200 shares of the company’s stock after buying an additional 200,800 shares during the period. ARI Network Services comprises 2.5% of Cowen Prime Services LLC’s holdings, making the stock its 10th largest position. Cowen Prime Services LLC owned 7.33% of ARI Network Services worth $5,666,000 as of its most recent SEC filing.
ARI Network Services, Inc creates software-as-a-service (SaaS) and data-as-a-service (DaaS) solutions that help equipment manufacturers, distributors and dealers in selected vertical markets Sell More Stuff!- online and in-store. The Company’s solutions include Web Platform Solutions, eCatalog Platform Solutions and Lead Management Product.
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