Alliance Entertainment (NASDAQ:AENT) Sees Strong Trading Volume – Still a Buy?

Alliance Entertainment Holding Co. (NASDAQ:AENT) saw an uptick in trading volume on Tuesday . 40,558 shares traded hands during mid-day trading, a decline of 37% from the previous session’s volume of 64,383 shares.The stock last traded at $10.09 and had previously closed at $9.97.

Alliance Entertainment Stock Performance

The firm has a 50-day simple moving average of $5.54 and a two-hundred day simple moving average of $3.47. The company has a current ratio of 1.34, a quick ratio of 0.60 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $461.67 million, a price-to-earnings ratio of 53.29 and a beta of 0.40.

Hedge Funds Weigh In On Alliance Entertainment

A hedge fund recently bought a new stake in Alliance Entertainment stock. Perritt Capital Management Inc purchased a new position in shares of Alliance Entertainment Holding Co. (NASDAQ:AENT) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 40,000 shares of the company’s stock, valued at approximately $120,000. Perritt Capital Management Inc owned about 0.08% of Alliance Entertainment as of its most recent SEC filing. 0.27% of the stock is owned by institutional investors and hedge funds.

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.