Yesterday, ARI Network Services, Inc. (OTC:ARIS) finished 32.63% up at $1.26. Apart from that, another factor which attracted more speculative eyes to ARIS stock was the intraday high which hit the $3 mark for a short time before midday.
The 33 thousand shares exchanged yesterday represent a volume a dozen times higher than the average indicator which shows only 2,500 shares. Nearly one third of the volume was comprised of short transactions as shown by the data released by FINRA.
Most likely, the last session of ARIS was driven by the released on Monday 10-K report of the company. These are the key financial points revealed by the document:
- There is a working capital deficit of roughly $3 million.
- There is a profit of $2.4 million which is higher than last year.
- ARIS has also generated $3.4 million through operating activities.
- Over the one-year course the number of outstanding shares has increased by 132 thousand which is represents a 1.71% relative increase.
The company, however, still retains a negative book value of roughly $5.5 million which can interfere with investors’ revaluation of the company’s market cap.
Apparently, the profit reported by the company has reverberated on the market as well. However, it is impossible to predict whether this will result in a steady increase in the average trading activity of ARIS stock.
