Allied Gaming & Entertainment Inc. (NASDAQ:AGAE – Get Free Report) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 2,060,000 shares, a growth of 1,238.5% from the August 31st total of 153,900 shares. Approximately 18.0% of the company’s shares are short sold. Based on an average trading volume of 1,890,000 shares, the short-interest ratio is presently 1.1 days. Based on an average trading volume of 1,890,000 shares, the short-interest ratio is presently 1.1 days. Approximately 18.0% of the company’s shares are short sold.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded shares of Allied Gaming & Entertainment to a “sell” rating in a research note on Friday, June 27th.
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Institutional Investors Weigh In On Allied Gaming & Entertainment
An institutional investor recently raised its position in Allied Gaming & Entertainment stock. Geode Capital Management LLC lifted its holdings in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE – Free Report) by 14.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 244,608 shares of the company’s stock after purchasing an additional 30,706 shares during the period. Geode Capital Management LLC owned about 0.64% of Allied Gaming & Entertainment worth $634,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 3.21% of the company’s stock.
Allied Gaming & Entertainment Stock Performance
Shares of AGAE opened at $0.92 on Wednesday. The company has a 50 day moving average price of $1.30 and a 200-day moving average price of $1.62. Allied Gaming & Entertainment has a fifty-two week low of $0.70 and a fifty-two week high of $3.79. The stock has a market capitalization of $34.94 million, a PE ratio of -1.80 and a beta of 1.81.
Allied Gaming & Entertainment (NASDAQ:AGAE – Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.11) earnings per share for the quarter. Allied Gaming & Entertainment had a negative return on equity of 10.27% and a negative net margin of 253.19%.The business had revenue of $1.92 million during the quarter.
Allied Gaming & Entertainment Company Profile
(Get Free Report)
Allied Gaming & Entertainment, Inc operates as an experiential entertainment company, which engages in the creation of esports venues and live events for both video games and poker. The company was founded in 2017 and is headquartered in New York, NY.
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