Aeries Technology, Inc. (NASDAQ:AERT) Sees Significant Drop in Short Interest

Aeries Technology, Inc. (NASDAQ:AERT) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 23,497 shares, a drop of 79.5% from the May 31st total of 114,827 shares. Based on an average daily volume of 105,142 shares, the short-interest ratio is presently 0.2 days. Currently, 1.1% of the company’s shares are short sold.

Aeries Technology Price Performance

AERT stock traded up $0.02 during mid-day trading on Friday, reaching $7.25. The company had a trading volume of 14,005 shares, compared to its average volume of 77,972. The company has a market capitalization of $41.62 million, a PE ratio of 18.13 and a beta of 0.66. The firm has a 50 day moving average of $5.74 and a 200 day moving average of $4.45. Aeries Technology has a 12 month low of $2.08 and a 12 month high of $11.60.

Hedge Funds Weigh In On Aeries Technology

A hedge fund recently bought a new position in Aeries Technology stock. Virtu Financial LLC acquired a new stake in Aeries Technology, Inc. (NASDAQ:AERT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 49,890 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned approximately 0.11% of Aeries Technology at the end of the most recent reporting period. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Aeries Technology from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About Aeries Technology

Aeries Technology, Inc operates as a professional services and consulting partner in the North America, Asia Pacific, and internationally. The company offers management consultancy services for private equity sponsors and their portfolio companies, including software solutions, product management, IT infrastructure, information and cyber security, ERP and CRM platform management, business process management, and digital transformation services. The company was founded in 2012 and is headquartered in Singapore.