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

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 973,151 shares, a growth of 60.1% from the February 12th total of 607,996 shares. Currently, 3.9% of the shares of the company are sold short. Based on an average daily volume of 25,480,853 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily volume of 25,480,853 shares, the days-to-cover ratio is currently 0.0 days. Currently, 3.9% of the shares of the company are sold short.

Hedge Funds Weigh In On Allied Gaming & Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of AGAE. Virtu Financial LLC acquired a new stake in shares of Allied Gaming & Entertainment in the 3rd quarter worth about $27,000. XTX Topco Ltd acquired a new position in Allied Gaming & Entertainment during the 4th quarter valued at about $26,000. Susquehanna International Group LLP acquired a new position in Allied Gaming & Entertainment during the 3rd quarter valued at about $90,000. Geode Capital Management LLC grew its position in Allied Gaming & Entertainment by 14.4% in the 2nd quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock worth $634,000 after purchasing an additional 30,706 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in Allied Gaming & Entertainment in the 3rd quarter worth about $590,000. Institutional investors and hedge funds own 3.21% of the company’s stock.

Allied Gaming & Entertainment Price Performance

NASDAQ:AGAE opened at $0.30 on Friday. Allied Gaming & Entertainment has a 12-month low of $0.25 and a 12-month high of $3.79. The firm has a market capitalization of $11.17 million, a P/E ratio of -0.55 and a beta of 1.58. The business has a 50 day simple moving average of $0.32 and a 200 day simple moving average of $0.56.

About Allied Gaming & Entertainment

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.