ARI Network Services Inc. (NASDAQ:ARIS) shares saw strong trading volume on Tuesday . 176,124 shares changed hands during trading, a decline of 8% from the previous session’s volume of 191,376 shares.The stock last traded at $5.30 and had previously closed at $5.21.

Separately, Zacks Investment Research lowered ARI Network Services from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th.

The company has a 50-day moving average of $4.33 and a 200-day moving average of $4.18. The company has a market cap of $91.16 million and a PE ratio of 58.67.

ARI Network Services (NASDAQ:ARIS) last announced its quarterly earnings data on Thursday, June 9th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business earned $12 million during the quarter, compared to analysts’ expectations of $11.82 million. On average, equities research analysts predict that ARI Network Services Inc. will post $0.10 earnings per share for the current fiscal year.

An institutional investor recently raised its position in ARI Network Services stock. Cowen Prime Services LLC raised its stake in ARI Network Services Inc. (NASDAQ:ARIS) by 19.0% during the fourth quarter, according to its most recent Form 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 makes up approximately 2.5% of Cowen Prime Services LLC’s investment portfolio, making the stock its 10th largest position. Cowen Prime Services LLC owned about 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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