Allied Gaming & Entertainment (NASDAQ:AGAE) Posts Quarterly Earnings Results

Allied Gaming & Entertainment (NASDAQ:AGAE) announced its quarterly earnings data on Wednesday. The company reported ($0.14) EPS for the quarter, Zacks reports. Allied Gaming & Entertainment had a negative net margin of 253.19% and a negative return on equity of 10.27%.

Allied Gaming & Entertainment Trading Up 5.3%

Shares of NASDAQ AGAE traded up $0.02 during midday trading on Wednesday, hitting $0.43. The company’s stock had a trading volume of 224,485 shares, compared to its average volume of 681,718. Allied Gaming & Entertainment has a 12-month low of $0.40 and a 12-month high of $3.79. The firm has a market cap of $16.42 million, a P/E ratio of -0.85 and a beta of 1.58. The business’s 50 day moving average is $0.79 and its two-hundred day moving average is $1.54.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Trading of Allied Gaming & Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in Allied Gaming & Entertainment in the 3rd quarter valued at about $27,000. Susquehanna International Group LLP bought a new stake in shares of Allied Gaming & Entertainment during the third quarter valued at approximately $90,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Allied Gaming & Entertainment by 14.4% in the second quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock valued at $634,000 after purchasing an additional 30,706 shares during the period. 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.