Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Update

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totaling 469,700 shares, a decrease of 77.2% from the September 15th total of 2,060,000 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average daily volume of 1,910,000 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 1,910,000 shares, the short-interest ratio is currently 0.2 days. Currently, 3.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

AGAE has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a report on Wednesday, October 8th. Wall Street Zen upgraded Allied Gaming & Entertainment to a “sell” rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Allied Gaming & Entertainment Trading Down 4.3%

Shares of AGAE stock opened at $0.71 on Friday. The firm has a fifty day moving average price of $1.07 and a 200 day moving average price of $1.60. The company has a market cap of $27.03 million, a P/E ratio of -1.39 and a beta of 1.67. Allied Gaming & Entertainment has a 12 month low of $0.70 and a 12 month high of $3.79.

Allied Gaming & Entertainment (NASDAQ:AGAE) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.11) earnings per share (EPS) for the quarter. Allied Gaming & Entertainment had a negative net margin of 253.19% and a negative return on equity of 10.27%. The company had revenue of $1.92 million during the quarter.

Hedge Funds Weigh In On Allied Gaming & Entertainment

An institutional investor recently raised its position in Allied Gaming & Entertainment stock. Geode Capital Management LLC raised its stake in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 14.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 244,608 shares of the company’s stock after acquiring an additional 30,706 shares during the period. Geode Capital Management LLC owned approximately 0.64% of Allied Gaming & Entertainment worth $634,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 3.21% of the company’s stock.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment, Inc operates as an experiential entertainment company, which engages in the creation of esports venues and live events for both video games and poker. The company was founded in 2017 and is headquartered in New York, NY.