Alliance Entertainment (NASDAQ:AENT) Sees Unusually-High Trading Volume – Here’s Why

Shares of Alliance Entertainment Holding Co. (NASDAQ:AENT) saw unusually-strong trading volume on Tuesday . Approximately 40,558 shares traded hands during 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 Price Performance

The company has a 50 day moving average price of $5.31 and a 200-day moving average price of $3.40. The company has a quick ratio of 0.60, a current ratio of 1.34 and a debt-to-equity ratio of 1.13. The company has a market cap of $474.92 million, a price-to-earnings ratio of 54.82 and a beta of 0.40.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Alliance Entertainment stock. Clarity Capital Partners LLC increased its stake in Alliance Entertainment Holding Co. (NASDAQ:AENT) by 13.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the company’s stock after acquiring an additional 3,000 shares during the quarter. Clarity Capital Partners LLC’s holdings in Alliance Entertainment were worth $68,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.27% of the company’s stock.

Alliance Entertainment Company Profile

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.