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

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

Aeries Technology Stock Performance

The company has a debt-to-equity ratio of 2.39, a current ratio of 0.70 and a quick ratio of 0.75. The firm has a market cap of $23.50 million, a price-to-earnings ratio of 0.33 and a beta of -0.69. The company has a fifty day moving average price of $0.74 and a two-hundred day moving average price of $1.41.

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

Institutional Investors Weigh In On Aeries Technology

A hedge fund recently raised its stake in Aeries Technology stock. Diametric Capital LP lifted its stake in shares of Aeries Technology, Inc (NASDAQ:AERT) by 444.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,484,350 shares of the company’s stock after purchasing 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 3.34% of Aeries Technology worth $1,380,000 as of its most recent SEC filing. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

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.