Genius Sports (NYSE:GENI) Stock Price Down 7.1% – What’s Next?

Genius Sports Limited (NYSE:GENI) was down 7.1% during mid-day trading on Monday . The stock traded as low as $7.84 and last traded at $7.7870. Approximately 955,677 shares changed hands during trading, a decline of 85% from the average session volume of 6,401,086 shares. The stock had previously closed at $8.38.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GENI shares. Truist Financial cut their price target on Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. B. Riley Financial reiterated a “buy” rating on shares of Genius Sports in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Genius Sports from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Guggenheim upped their price objective on shares of Genius Sports from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Oppenheimer upped their target price on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.44.

Genius Sports Trading Down 7.5%

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.10. The firm has a 50 day moving average price of $6.75 and a two-hundred day moving average price of $5.88. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -11.40 and a beta of 1.90.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.21). The firm had revenue of $195.50 million during the quarter, compared to analyst estimates of $184.43 million. Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.The firm’s revenue for the quarter was up 64.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) EPS. As a group, equities analysts forecast that Genius Sports Limited will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Lexington Hill Partners LLC acquired a new stake in Genius Sports in the second quarter worth $64,000. Moody National Bank Trust Division raised its position in shares of Genius Sports by 32.9% during the second quarter. Moody National Bank Trust Division now owns 589,959 shares of the company’s stock worth $3,575,000 after purchasing an additional 146,044 shares during the period. Pacer Advisors Inc. raised its holdings in Genius Sports by 29.1% during the first quarter. Pacer Advisors Inc. now owns 15,270 shares of the company’s stock worth $68,000 after buying an additional 3,440 shares during the last quarter. Parallel Advisors LLC bought a new position in Genius Sports in the 1st quarter valued at about $25,000. Finally, Ritter Alpha LP bought a new position in shares of Genius Sports in the first quarter valued at approximately $77,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

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.