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

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

Alliance Entertainment Price Performance

Shares of AENT opened at $2.05 on Monday. The company has a market cap of $104.41 million, a P/E ratio of -14.64 and a beta of 0.30. The stock has a fifty day moving average price of $1.87 and a 200 day moving average price of $1.41. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.35 and a quick ratio of 0.85. Alliance Entertainment has a 12 month low of $0.65 and a 12 month high of $4.10.

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

Institutional Inflows and Outflows

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

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.