Aeries Technology (NASDAQ:AERT) Trading 7.5% Higher – Here’s What Happened

Aeries Technology, Inc (NASDAQ:AERT)’s share price was up 7.5% during mid-day trading on Friday . The company traded as high as $0.53 and last traded at $0.53. Approximately 68,316 shares changed hands during trading, a decline of 30% from the average daily volume of 97,298 shares. The stock had previously closed at $0.49.

Aeries Technology Stock Up 7.5 %

The business has a 50-day moving average price of $0.74 and a 200-day moving average price of $1.41. The company has a market capitalization of $23.50 million, a price-to-earnings ratio of 0.33 and a beta of -0.69. The company has a quick ratio of 0.75, a current ratio of 0.70 and a debt-to-equity ratio of 2.39.

Aeries Technology (NASDAQ:AERT) last posted its quarterly earnings results on Friday, February 14th. The company reported $0.07 earnings per share for the quarter. The firm had revenue of $17.61 million for the quarter. Aeries Technology had a negative return on equity of 2,170.47% and a net margin of 23.81%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Aeries Technology stock. Diametric Capital LP boosted its holdings in shares of Aeries Technology, Inc (NASDAQ:AERT) by 444.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,484,350 shares of the company’s stock after buying an additional 1,211,945 shares during the period. Aeries Technology makes up about 0.9% of Diametric Capital LP’s holdings, making the stock its 20th biggest position. Diametric Capital LP owned approximately 3.34% of Aeries Technology worth $1,380,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 99.15% of the company’s stock.

About Aeries Technology

Aeries Technology, Inc operates as a professional services and consulting partner in the North America, Asia Pacific, and internationally. The company offers management consultancy services for private equity sponsors and their portfolio companies, including software solutions, product management, IT infrastructure, information and cyber security, ERP and CRM platform management, business process management, and digital transformation services.