Alliance Entertainment Holding Co. (NASDAQ:AENT) Sees Significant Drop in Short Interest

Alliance Entertainment Holding Co. (NASDAQ:AENT) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 22,600 shares, a decline of 10.3% from the March 31st total of 25,200 shares. Based on an average daily volume of 25,100 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.7% of the company’s shares are short sold.

Hedge Funds Weigh In On Alliance Entertainment

An institutional investor recently bought a new position in Alliance Entertainment stock. Sheets Smith Wealth Management bought a new stake in Alliance Entertainment Holding Co. (NASDAQ:AENT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 25,000 shares of the company’s stock, valued at approximately $28,000. Sheets Smith Wealth Management owned approximately 0.05% of Alliance Entertainment at the end of the most recent quarter. 0.27% of the stock is owned by institutional investors.

Alliance Entertainment Stock Up 1.5 %

Shares of NASDAQ:AENT opened at $2.08 on Tuesday. The company has a 50 day moving average price of $1.87 and a two-hundred day moving average price of $1.42. The company has a market capitalization of $105.93 million, a PE ratio of -14.86 and a beta of 0.29. Alliance Entertainment has a 52 week low of $0.65 and a 52 week high of $4.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.85 and a current ratio of 1.35.

Alliance Entertainment (NASDAQ:AENT) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.18 earnings per share (EPS) for the quarter. Alliance Entertainment had a negative return on equity of 8.38% and a negative net margin of 0.61%. The company had revenue of $425.59 million during the quarter.

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.