Allied Gaming & Entertainment (NASDAQ:AIFA) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Allied Gaming & Entertainment (NASDAQ:AIFA) to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

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

Allied Gaming & Entertainment Stock Performance

Shares of AIFA opened at $3.74 on Friday. The firm has a market cap of $24.01 million, a price-to-earnings ratio of -0.83 and a beta of 2.44. The firm has a 50 day moving average price of $3.66 and a 200-day moving average price of $2.85. Allied Gaming & Entertainment has a fifty-two week low of $1.51 and a fifty-two week high of $8.93.

Allied Gaming & Entertainment (NASDAQ:AIFA) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.03. The firm had revenue of $1.25 million during the quarter, compared to the consensus estimate of $0.50 million. Allied Gaming & Entertainment had a negative net margin of 438.98% and a negative return on equity of 67.15%.

Institutional Trading of Allied Gaming & Entertainment

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Renaissance Technologies LLC lifted its position in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AIFA) by 84.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,392 shares of the company’s stock after buying an additional 58,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.34% of Allied Gaming & Entertainment worth $35,000 at the end of the most recent quarter. 3.21% of the stock is owned by hedge funds and other institutional investors.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment is an entertainment company focused on esports and gaming-related experiences. Its activities have included live esports events, gaming tournaments, original content production, and entertainment programming designed to connect players, fans, and brands.

The company has operated gaming venues and mobile event capabilities, including the HyperX Arena Las Vegas and the Allied Esports Truck. These platforms are used for competitive gaming, community events, broadcasts, brand activations, and other interactive entertainment experiences.

Allied Gaming & Entertainment was formerly known as Allied Esports Entertainment and adopted its current name as it broadened its focus beyond traditional esports competition.