Alliance Entertainment (NASDAQ:AENT) Stock Price Up 12% – Should You Buy?

Shares of Alliance Entertainment Holding Co. (NASDAQ:AENT) were up 12% during mid-day trading on Monday . The company traded as high as $7.72 and last traded at $7.48. Approximately 111,654 shares were traded during trading, an increase of 79% from the average daily volume of 62,506 shares. The stock had previously closed at $6.68.

Alliance Entertainment Trading Up 0.3 %

The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.60 and a current ratio of 1.34. The company’s 50 day moving average is $4.89 and its 200 day moving average is $3.26. The stock has a market capitalization of $382.18 million, a price-to-earnings ratio of 44.12 and a beta of 0.40.

Hedge Funds Weigh In On Alliance Entertainment

An institutional investor recently bought a new position in Alliance Entertainment stock. Perritt Capital Management Inc acquired a new stake in shares of Alliance Entertainment Holding Co. (NASDAQ:AENT) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 40,000 shares of the company’s stock, valued at approximately $120,000. Perritt Capital Management Inc owned 0.08% of Alliance Entertainment at the end of the most recent quarter. Institutional investors own 0.27% of the company’s stock.

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.