Short Interest in Alliance Entertainment Holding Co. (NASDAQ:AENT) Grows By 33.5%

Alliance Entertainment Holding Co. (NASDAQ:AENT - Get Free Report) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 55,000 shares, an increase of 33.5% from the October 15th total of 41,200 shares. Currently, 1.8% of the company's stock are short sold. Based on an average daily trading volume, of 127,900 shares, the days-to-cover ratio is currently 0.4 days.

Alliance Entertainment Stock Down 6.7 %

Alliance Entertainment stock traded down $0.31 during mid-day trading on Thursday, reaching $4.32. The stock had a trading volume of 41,402 shares, compared to its average volume of 61,415. The stock's 50-day simple moving average is $3.03 and its 200-day simple moving average is $2.63. Alliance Entertainment has a fifty-two week low of $0.65 and a fifty-two week high of $4.99. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.67 and a current ratio of 1.33. The firm has a market capitalization of $220.15 million, a PE ratio of 25.88 and a beta of 0.40.

Alliance Entertainment (NASDAQ:AENT - Get Free Report) last announced its quarterly earnings results on Thursday, September 19th. The company reported $0.05 earnings per share (EPS) for the quarter. Alliance Entertainment had a return on equity of 9.69% and a net margin of 0.77%. The business had revenue of $236.93 million during the quarter.

Hedge Funds Weigh In On Alliance Entertainment

An institutional investor recently raised its position in Alliance Entertainment stock. Clarity Capital Partners LLC increased its stake in shares of Alliance Entertainment Holding Co. (NASDAQ:AENT - Free Report) by 13.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 25,000 shares of the company's stock after purchasing an additional 3,000 shares during the period. Clarity Capital Partners LLC's holdings in Alliance Entertainment were worth $68,000 as of its most recent SEC filing. Institutional investors and hedge funds own 0.27% of the company's stock.

Alliance Entertainment Company Profile

Alliance Entertainment Holding Corporation operates as a wholesaler, distributor, and e-commerce provider for the entertainment industry worldwide. It offers vinyl records, video games, digital video discs, blu-rays, toys, compact discs, collectibles, and other entertainment and consumer products. The company also provides third party logistics products and services.