The Arena Group (NYSE:AREN) Stock Price Up 196.5% – What’s Next?

The Arena Group Holdings, Inc. (NYSE:AREN)’s stock price rose 196.5% during mid-day trading on Friday . The company traded as high as $2.18 and last traded at $1.69. Approximately 93,538,186 shares traded hands 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 Up 207.0 %

The business has a 50 day simple moving average of $0.77 and a 200-day simple moving average of $0.82.

The Arena Group (NYSE:AREN) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.24) earnings per share (EPS) for the quarter. The business had revenue of $27.18 million during the quarter.

Hedge Funds Weigh In On The Arena Group

An institutional investor recently bought a new position in The Arena Group stock. 272 Capital LP acquired a new position in The Arena Group Holdings, Inc. (NYSE:AREN) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 308,274 shares of the company’s stock, valued at approximately $250,000. 272 Capital LP owned 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.

The Arena Group Company Profile

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.