The Arena Group Holdings, Inc. (NYSEAMERICAN:PAAI) Stock Short Interest Report for September

The Arena Group Holdings, Inc. (NYSEAMERICAN:PAAI) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 1,064,453 shares, a growth of 113.1% from the September 15th total of 499,392 shares. Based on an average daily volume of 10,208,924 shares, the days-to-cover ratio is currently 0.1 days. Approximately 8.3% of the company’s shares are short sold.

The Arena Group Trading Down 7.7%

Shares of PAAI traded down $0.08 during mid-day trading on Wednesday, reaching $0.90. The company had a trading volume of 198,766 shares, compared to its average volume of 5,801,990. The Arena Group has a fifty-two week low of $0.82 and a fifty-two week high of $3.47. The firm has a fifty day simple moving average of $1.15 and a 200-day simple moving average of $1.39. The stock has a market cap of $42.83 million, a price-to-earnings ratio of 4.73 and a beta of 0.76.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Lake Street Capital downgraded The Arena Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $6.00 to $2.00 in a research report on Tuesday, August 11th. Zacks Research upgraded The Arena Group to a “hold” rating in a research report on Monday, October 5th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in The Arena Group stock. BlackRock Inc. bought a new position in shares of The Arena Group Holdings, Inc. (NYSEAMERICAN:PAAI) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 203,946 shares of the company’s stock, valued at approximately $169,000. BlackRock Inc. owned 0.43% of The Arena Group as of its most recent filing with the SEC. 85.55% of the stock is owned by institutional investors and hedge funds.

The Arena Group Company Profile

The Arena Group, formerly known as Maven, is a digital media company that develops, operates and distributes editorial content across sports, lifestyle, entertainment and financial media. Its business has included digital publications, magazines, newsletters, video and other online content designed to reach targeted audiences.

The company has operated a portfolio of brands that has included Sports Illustrated, TheStreet, Parade and other enthusiast-focused media properties. Its activities have included digital advertising, subscriptions, licensing, e-commerce and brand partnerships, with content distributed primarily through websites, mobile platforms, social media and selected print products.

Founded as Maven in 2016, the company changed its name to The Arena Group Holdings, Inc in 2022 following the expansion of its media portfolio.