Aeries Technology (NASDAQ:AERT) Shares Down 1.9% – Here’s Why

Aeries Technology, Inc. (NASDAQ:AERT)’s share price dropped 1.9% on Friday. The stock traded as low as $6.83 and last traded at $7.10. Approximately 2,121 shares traded hands during trading, a decline of 87% from the average session volume of 16,288 shares. The stock had previously closed at $7.24.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Aeries Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Aeries Technology Stock Down 1.9%

The company has a market cap of $37.27 million, a P/E ratio of 16.51 and a beta of 0.65. The firm has a fifty day moving average price of $6.82 and a 200 day moving average price of $5.76.

Aeries Technology (NASDAQ:AERT) last released its quarterly earnings results on Monday, August 10th. The company reported $0.27 earnings per share (EPS) for the quarter. The business had revenue of $21.92 million during the quarter. Aeries Technology had a negative return on equity of 114.69% and a net margin of 3.68%.

Aeries Technology Company Profile

Aeries Technology, Inc (NASDAQ:AERT) is a global professional services and consulting company that helps businesses manage technology, operations and specialized corporate functions. The company combines consulting expertise, technology solutions and managed services to support clients with digital transformation and ongoing business operations.

Its service offerings include information technology and software development, enterprise application services, data and analytics, business intelligence, finance and accounting support, and other business process services.