Short Interest in Aeries Technology, Inc (NASDAQ:AERT) Declines By 29.1%

Aeries Technology, Inc (NASDAQ:AERT) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 114,000 shares, a drop of 29.1% from the January 31st total of 160,900 shares. Based on an average daily volume of 296,200 shares, the days-to-cover ratio is presently 0.4 days. Currently, 1.1% of the company’s stock are short sold.

Aeries Technology Trading Up 7.9 %

NASDAQ:AERT opened at $0.66 on Tuesday. The stock has a market cap of $29.46 million, a price-to-earnings ratio of 0.41 and a beta of -0.69. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 2.39. The company’s 50 day moving average price is $0.72 and its 200-day moving average price is $1.33. Aeries Technology has a 52 week low of $0.46 and a 52 week high of $2.93.

Aeries Technology (NASDAQ:AERT) last posted its earnings results on Friday, February 14th. The company reported $0.07 EPS for the quarter. The business had revenue of $17.61 million during the quarter. Aeries Technology had a negative return on equity of 2,170.47% and a net margin of 23.81%.

Hedge Funds Weigh In On Aeries Technology

A hedge fund recently raised its stake in Aeries Technology stock. Diametric Capital LP lifted its stake in Aeries Technology, Inc (NASDAQ:AERT) by 444.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,484,350 shares of the company’s stock after acquiring an additional 1,211,945 shares during the quarter. Aeries Technology accounts for about 0.9% of Diametric Capital LP’s investment portfolio, making the stock its 20th largest holding. Diametric Capital LP owned 3.34% of Aeries Technology worth $1,380,000 as of its most recent filing with the Securities & Exchange Commission. 99.15% of the stock is owned by hedge funds and other institutional investors.

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.