Genius Sports (NYSE:GENI) Sees Strong Trading Volume – Should You Buy?

Genius Sports Limited (NYSE:GENI) shares saw an uptick in trading volume on Thursday . 5,477,730 shares traded hands during mid-day trading, an increase of 23% from the previous session’s volume of 4,464,125 shares.The stock last traded at $6.9040 and had previously closed at $8.54.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Guggenheim set a $17.00 target price on shares of Genius Sports in a research report on Thursday, December 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Genius Sports in a report on Monday, December 29th. Zacks Research raised Genius Sports from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 4th. Truist Financial set a $15.00 price target on Genius Sports in a research note on Monday. Finally, Benchmark restated a “buy” rating and set a $16.00 price objective on shares of Genius Sports in a research note on Tuesday, December 30th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Genius Sports currently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Genius Sports Stock Down 26.7%

The stock has a market capitalization of $1.35 billion, a P/E ratio of -13.18 and a beta of 1.85. The company has a 50 day moving average of $10.29 and a 200-day moving average of $11.24.

Genius Sports (NYSE:GENI) last issued its earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.18). Genius Sports had a negative return on equity of 14.39% and a negative net margin of 19.71%.The business had revenue of $166.28 million for the quarter, compared to analyst estimates of $156.24 million. Equities analysts forecast that Genius Sports Limited will post -0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

A number of hedge funds have recently added to or reduced their stakes in the stock. CWM LLC increased its position in shares of Genius Sports by 275.5% during the 2nd quarter. CWM LLC now owns 3,980 shares of the company’s stock valued at $41,000 after purchasing an additional 2,920 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Genius Sports during the third quarter worth about $65,000. Strs Ohio grew its holdings in Genius Sports by 178.9% during the third quarter. Strs Ohio now owns 5,300 shares of the company’s stock worth $66,000 after acquiring an additional 3,400 shares during the period. Bessemer Group Inc. raised its position in Genius Sports by 1,163.1% in the third quarter. Bessemer Group Inc. now owns 7,010 shares of the company’s stock worth $87,000 after acquiring an additional 6,455 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Genius Sports in the 2nd quarter valued at about $75,000. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.