Update (4:07 p.m. EST): Updated with closing price, day high and low prices, year high and low prices, price change and volume information.
NEW YORK (TheStreet) -- Aeropostale Inc. (ARO) climbed 0.65% to $7.78, just 5 cents more than its previous close of $7.73, at the close of the trading day on Wednesday after a report that the company had contacted at least two private investors.
The stock had a volume of 5,825,768, nearly twice its average of 2,938,670. It hit a high of $8.21 and a low of $7.70 for the day. The stock has a one-year low of $7.62 and a one-year high of $17.10. It had risen 4.66% to $8.09 just after the market opened on Wednesday morning.
Bloomberg reports that the teen-clothing retailer, which has faced pressure from activist investor Crescendo Partners, has reached out to at least two private-equity firms as the company's management continues to explore strategic options for its future. The report notes that Aeropostale is not yet in negotiations to sell itself. Aeropostale has also contacted investment banks about how to handle the Crescendo Partners pressure or to run a sale process, according to Bloomberg.
Crescendo sent a letter to Aeropostale in November to insist that it sell itself to another clothing retailer or be taken private. Crescendo said in the letter that the stock could be worth $14 to $16 a share. Aeropostale has lost money for four straight quarters and seen its shares slide 37% over the last 12 months.
TheStreet Ratings team rates AEROPOSTALE INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation: