Shares of The Arena Group Holdings, Inc. (NYSE:AREN - Get Free Report) were up 196.5% during trading on Friday . The stock traded as high as $2.18 and last traded at $1.69. Approximately 93,538,186 shares were traded during mid-day trading, an increase of 17,911% from the average daily volume of 519,353 shares. The stock had previously closed at $0.57.
The Arena Group Stock Performance
The company has a market cap of $51.79 million, a PE ratio of -0.40 and a beta of 0.08. The company's 50-day simple moving average is $0.77 and its 200 day simple moving average is $0.82.
The Arena Group (NYSE:AREN - Get Free Report) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.24) EPS for the quarter. The business had revenue of $27.18 million for the quarter.
Institutional Investors Weigh In On The Arena Group
An institutional investor recently bought a new position in The Arena Group stock. 272 Capital LP purchased a new position in shares of The Arena Group Holdings, Inc. (NYSE:AREN - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 308,274 shares of the company's stock, valued at approximately $250,000. 272 Capital LP owned approximately 1.04% of The Arena Group at the end of the most recent reporting period. 85.55% of the stock is currently owned by institutional investors and hedge funds.
About The Arena Group
(
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The Arena Group Holdings, Inc, together with its subsidiaries, operates digital media platform in the United States and internationally. The company offers the Platform, a proprietary online publishing platform comprising publishing tools, video platforms, social distribution channels, newsletter technology, machine learning content recommendations, notifications, and other technology.
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