ARI Network Services Inc. (ARIS) Shares Gap Up to $5.10
ARI Network Services Inc. (NASDAQ:ARIS)’s share price gapped up prior to trading on Monday . The stock had previously closed at $5.04, but opened at $5.10. ARI Network Services shares last traded at $5.35, with a volume of 119,500 shares traded.
Separately, Zacks Investment Research raised shares of ARI Network Services from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a report on Thursday, June 16th.
The firm has a market cap of $91.16 million and a P/E ratio of 58.6678. The stock’s 50 day moving average price is $4.36 and its 200-day moving average price is $4.19.
ARI Network Services (NASDAQ:ARIS) last posted its quarterly earnings results on Thursday, June 9th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $12 million for the quarter, compared to analysts’ expectations of $11.82 million. On average, analysts forecast that ARI Network Services Inc. will post $0.10 EPS for the current year.
A hedge fund recently raised its stake in ARI Network Services stock. Cowen Prime Services LLC raised its position in ARI Network Services Inc. (NASDAQ:ARIS) by 19.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,259,200 shares of the company’s stock after buying an additional 200,800 shares during the period. ARI Network Services accounts for approximately 2.5% of Cowen Prime Services LLC’s portfolio, making the stock its 10th largest position. Cowen Prime Services LLC owned approximately 7.33% of ARI Network Services worth $5,666,000 as of its most recent filing with the SEC.
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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