Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Sees Large Decrease in Short Interest

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 778,713 shares, a drop of 14.1% from the December 31st total of 906,063 shares. Based on an average daily volume of 652,533 shares, the short-interest ratio is presently 1.2 days. Currently, 3.2% of the company’s stock are sold short. Currently, 3.2% of the company’s stock are sold short. Based on an average daily volume of 652,533 shares, the short-interest ratio is presently 1.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Allied Gaming & Entertainment

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in shares of Allied Gaming & Entertainment during the third quarter valued at $27,000. Susquehanna International Group LLP bought a new stake in Allied Gaming & Entertainment in the 3rd quarter valued at about $90,000. Geode Capital Management LLC boosted its stake in Allied Gaming & Entertainment by 14.4% during the 2nd 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. Finally, Miracle Mile Advisors LLC bought a new position in Allied Gaming & Entertainment in the 3rd quarter worth about $590,000. 3.21% of the stock is currently owned by institutional investors.

Allied Gaming & Entertainment Stock Performance

NASDAQ AGAE opened at $0.28 on Thursday. Allied Gaming & Entertainment has a one year low of $0.27 and a one year high of $3.79. The company has a 50-day simple moving average of $0.36 and a 200-day simple moving average of $0.79. The firm has a market capitalization of $10.61 million, a PE ratio of -0.52 and a beta of 1.63.

Allied Gaming & Entertainment (NASDAQ:AGAE) last released its quarterly earnings data on Wednesday, November 19th. The company reported ($0.14) earnings per share for the quarter. Allied Gaming & Entertainment had a negative return on equity of 19.56% and a negative net margin of 280.09%.The business had revenue of $1.85 million for the quarter.

Allied Gaming & Entertainment Company Profile

Allied Gaming & Entertainment, Inc is a digital media and technology company focused on the development, production and distribution of live amateur sports content in the United States. The company’s flagship InPlay Sports division secures rights to high school and collegiate athletic events and streams those competitions across linear and digital channels. Through strategic partnerships with regional school conferences and venues, Allied Gaming aims to expand the reach of under-served amateur athletics audiences while creating new content monetization opportunities.

Allied’s content portfolio spans live event coverage, on-demand highlights and studio productions designed for distribution on television, web and mobile platforms.