The Arena Group (NYSE:AREN) Stock Price Up 196.5% – Should You Buy?

The Arena Group Holdings, Inc. (NYSE:AREN)’s share price traded up 196.5% on Friday . The stock traded as high as $2.18 and last traded at $1.69. 93,538,186 shares traded hands during mid-day trading, an increase of 17,911% from the average session volume of 519,353 shares. The stock had previously closed at $0.57.

The Arena Group Price Performance

The firm has a market capitalization of $50.01 million, a P/E ratio of -0.40 and a beta of 0.08. The firm’s 50 day simple moving average is $0.76 and its two-hundred day simple moving average is $0.82.

The Arena Group (NYSE:AREN) last released its quarterly earnings data on Monday, August 19th. The company reported ($0.24) earnings per share (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 acquired a new position in shares of The Arena Group Holdings, Inc. (NYSE:AREN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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. Institutional investors own 85.55% of the company’s stock.

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.