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

Allied Gaming & Entertainment (NASDAQ:AGAE) announced its quarterly earnings results on Thursday. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.34), Zacks reports. Allied Gaming & Entertainment had a negative net margin of 280.09% and a negative return on equity of 19.56%. The business had revenue of $1.93 million during the quarter, compared to analysts’ expectations of $0.50 million.

Allied Gaming & Entertainment Price Performance

Allied Gaming & Entertainment stock opened at $0.59 on Friday. Allied Gaming & Entertainment has a 12-month low of $0.25 and a 12-month high of $3.79. The stock has a market capitalization of $22.19 million, a P/E ratio of -1.09 and a beta of 2.35. The firm’s 50-day moving average is $0.41 and its two-hundred day moving average is $0.38.

Wall Street Analyst Weigh In

AGAE has been the topic of several recent research reports. Weiss Ratings raised shares of Allied Gaming & Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, April 21st. Wall Street Zen raised shares of Allied Gaming & Entertainment to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Allied Gaming & Entertainment

Several hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC acquired a new stake in shares of Allied Gaming & Entertainment during the 4th quarter worth about $262,000. Geode Capital Management LLC boosted its stake in shares of Allied Gaming & Entertainment by 14.4% during 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. Susquehanna International Group LLP acquired a new stake in shares of Allied Gaming & Entertainment during the 3rd quarter worth about $90,000. XTX Topco Ltd acquired a new stake in shares of Allied Gaming & Entertainment during the 4th quarter worth about $26,000. Finally, Virtu Financial LLC acquired a new stake in shares of Allied Gaming & Entertainment during the 3rd quarter worth about $27,000. 3.21% of the stock is owned by institutional investors and hedge funds.

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.