Alliance Entertainment (NASDAQ:AENT) Trading 12% Higher – Here’s What Happened

Alliance Entertainment Holding Co. (NASDAQ:AENT)’s stock price traded up 12% during trading on Monday . The company traded as high as $7.72 and last traded at $7.48. 111,654 shares changed hands during trading, an increase of 79% from the average session volume of 62,506 shares. The stock had previously closed at $6.68.

Alliance Entertainment Stock Performance

The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.60 and a current ratio of 1.34. The firm has a market capitalization of $382.18 million, a price-to-earnings ratio of 44.12 and a beta of 0.40. The firm’s 50-day moving average price is $4.89 and its two-hundred day moving average price is $3.26.

Institutional Investors Weigh In On Alliance Entertainment

An institutional investor recently bought a new position in Alliance Entertainment stock. Perritt Capital Management Inc purchased a new stake in Alliance Entertainment Holding Co. (NASDAQ:AENT) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 40,000 shares of the company’s stock, valued at approximately $120,000. Perritt Capital Management Inc owned 0.08% of Alliance Entertainment at the end of the most recent reporting period. Institutional investors own 0.27% of the company’s stock.

About Alliance Entertainment

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.