ARI Network Services Inc. (ARIS) Shares Gap Up to $5.10
ARI Network Services Inc. (NASDAQ:ARIS)’s share price gapped up before the market opened 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 research report on Thursday, June 16th.
The firm has a market cap of $89.95 million and a P/E ratio of 57.89. The stock’s 50 day moving average is $4.33 and its 200 day moving average is $4.18.
ARI Network Services (NASDAQ:ARIS) last released its quarterly earnings results on Thursday, June 9th. The company reported $0.03 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.03. The company earned $12 million during the quarter, compared to analysts’ expectations of $11.82 million. On average, analysts predict 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 increased its position in ARI Network Services Inc. (NASDAQ:ARIS) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the 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 comprises approximately 2.5% of Cowen Prime Services LLC’s holdings, making the stock its 10th largest position. Cowen Prime Services LLC owned approximately 7.33% of ARI Network Services worth $5,666,000 at the end of the most recent reporting period.
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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