Genius Sports (NYSE:GENI) Shares Up 6.5% – Still a Buy?

Genius Sports Limited (NYSE:GENI) shares shot up 6.5% during trading on Tuesday . The stock traded as high as $4.66 and last traded at $4.6950. 1,011,346 shares changed hands during trading, a decline of 84% from the average session volume of 6,158,502 shares. The stock had previously closed at $4.41.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GENI. Roth Mkm set a $10.00 target price on shares of Genius Sports in a research report on Friday, May 8th. Wells Fargo & Company decreased their price target on shares of Genius Sports from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Stifel Nicolaus lowered their price objective on shares of Genius Sports from $7.00 to $5.00 and set a “hold” rating on the stock in a research report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genius Sports in a research note on Monday. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Northland Securities set a $12.00 target price on shares of Genius Sports in a research note on Friday, February 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.68.

Genius Sports Stock Down 1.3%

The company has a market capitalization of $1.02 billion, a PE ratio of -6.81 and a beta of 1.80. The stock’s fifty day simple moving average is $4.68 and its 200-day simple moving average is $7.79.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The firm had revenue of $187.95 million for the quarter, compared to analysts’ expectations of $170.60 million. During the same period last year, the firm earned ($0.03) EPS. Genius Sports’s revenue was up 30.5% compared to the same quarter last year. Analysts expect that Genius Sports Limited will post -0.12 EPS for the current year.

Institutional Trading of Genius Sports

Several large investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Genius Sports during the 3rd quarter worth $65,000. Strs Ohio grew its stake in Genius Sports by 178.9% in the 3rd quarter. Strs Ohio now owns 5,300 shares of the company’s stock valued at $66,000 after acquiring an additional 3,400 shares during the last quarter. Parallel Advisors LLC purchased a new position in Genius Sports during the 1st quarter valued at about $25,000. UMB Bank n.a. purchased a new position in Genius Sports during the 4th quarter valued at about $63,000. Finally, Bessemer Group Inc. raised its position in Genius Sports by 1,163.1% during 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 during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

About Genius Sports

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.