The Arena Group Holdings, Inc. (NYSEAMERICAN:PAAI) Stock Short Interest Jumps 113.1%

The Arena Group Holdings, Inc. (NYSEAMERICAN:PAAI) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 1,064,453 shares, a growth of 113.1% from the September 15th total of 499,392 shares. Approximately 8.3% of the shares of the company are short sold. Based on an average daily volume of 10,208,924 shares, the short-interest ratio is currently 0.1 days.

The Arena Group Price Performance

The Arena Group stock traded down $0.09 during mid-day trading on Tuesday, reaching $0.98. 285,596 shares of the company traded hands, compared to its average volume of 3,968,507. The firm’s fifty day moving average is $1.17 and its two-hundred day moving average is $1.41. The Arena Group has a fifty-two week low of $0.82 and a fifty-two week high of $3.47. The company has a market capitalization of $46.68 million, a price-to-earnings ratio of 5.16 and a beta of 0.76.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in The Arena Group stock. BlackRock Inc. bought a new stake in The Arena Group Holdings, Inc. (NYSEAMERICAN:PAAI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 203,946 shares of the company’s stock, valued at approximately $169,000. BlackRock Inc. owned 0.43% of The Arena Group as of its most recent filing with the Securities and Exchange Commission (SEC). 85.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PAAI has been the subject of several research analyst reports. Lake Street Capital lowered shares of The Arena Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $6.00 to $2.00 in a research report on Tuesday, August 11th. Zacks Research raised shares of The Arena Group to a “hold” rating in a report on Monday, October 5th. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.00.

The Arena Group Company Profile

The Arena Group, formerly known as Maven, is a digital media company that develops, operates and distributes editorial content across sports, lifestyle, entertainment and financial media. Its business has included digital publications, magazines, newsletters, video and other online content designed to reach targeted audiences.

The company has operated a portfolio of brands that has included Sports Illustrated, TheStreet, Parade and other enthusiast-focused media properties. Its activities have included digital advertising, subscriptions, licensing, e-commerce and brand partnerships, with content distributed primarily through websites, mobile platforms, social media and selected print products.

Founded as Maven in 2016, the company changed its name to The Arena Group Holdings, Inc in 2022 following the expansion of its media portfolio.