The Arena Group (NYSE:AREN) Shares Up 5% – Should You Buy?

The Arena Group Holdings, Inc. (NYSE:AREN)’s share price was up 5% on Thursday . The stock traded as high as $1.28 and last traded at $1.26. Approximately 13,116 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 42,782 shares. The stock had previously closed at $1.20.

The Arena Group Price Performance

The firm has a market cap of $66.46 million, a PE ratio of -0.33 and a beta of 0.48. The business has a 50-day moving average price of $1.40 and a two-hundred day moving average price of $1.02.

Institutional Trading of The Arena Group

An institutional investor recently bought a new position in The Arena Group stock. 272 Capital LP acquired a new position in shares of The Arena Group Holdings, Inc. (NYSE:AREN) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 308,274 shares of the company’s stock, valued at approximately $250,000. 272 Capital LP owned about 0.65% of The Arena Group at the end of the most recent reporting period. Institutional investors and hedge funds own 85.55% of the company’s stock.

About The Arena Group

The Arena Group Holdings, Inc, together with its subsidiaries, operates digital media platform in the United States and internationally. The company offers the Platform, a proprietary online publishing platform comprising publishing tools, video platforms, social distribution channels, newsletter technology, machine learning content recommendations, notifications, and other technology.