ARI Network Services Inc. (ARIS) Sees Unusually-High Trading Volume
ARI Network Services Inc. (NASDAQ:ARIS) shares saw unusually-strong trading volume on Wednesday . Approximately 212,613 shares changed hands during trading, an increase of 51% from the previous session’s volume of 140,514 shares.The stock last traded at $4.45 and had previously closed at $4.28.
A number of equities research analysts have weighed in on ARIS shares. Zacks Investment Research downgraded shares of ARI Network Services from a “buy” rating to a “hold” rating in a research note on Tuesday, May 17th. Ascendiant Capital Markets lifted their price target on shares of ARI Network Services from $5.50 to $6.00 and gave the stock a “buy” rating in a research note on Friday, March 11th.
The stock’s 50-day moving average price is $4.09 and its 200 day moving average price is $4.16. The company has a market capitalization of $76.83 million and a P/E ratio of 49.44.
ARI Network Services (NASDAQ:ARIS) last released its earnings results on Thursday, June 9th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $12 million for the quarter, compared to analyst estimates of $11.82 million. Equities analysts anticipate that ARI Network Services Inc. will post $0.10 EPS for the current year.
In other news, CEO Roy W. Olivier sold 7,998 shares of the stock in a transaction on Monday, April 18th. The stock was sold at an average price of $4.35, for a total transaction of $34,791.30. Following the sale, the chief executive officer now directly owns 169,297 shares of the company’s stock, valued at approximately $736,441.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
A hedge fund recently raised its stake in ARI Network Services stock. Cowen Prime Services LLC increased its stake in ARI Network Services Inc. (NASDAQ:ARIS) by 19.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 2.5% of Cowen Prime Services LLC’s portfolio, 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 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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