Short Interest in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Expands By 72.1%

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totaling 906,063 shares, an increase of 72.1% from the December 15th total of 526,521 shares. Based on an average daily trading volume, of 658,884 shares, the days-to-cover ratio is presently 1.4 days. Currently, 4.0% of the shares of the company are short sold. Currently, 4.0% of the shares of the company are short sold. Based on an average daily trading volume, of 658,884 shares, the days-to-cover ratio is presently 1.4 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Hedge Funds Weigh In On Allied Gaming & Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the company. Susquehanna International Group LLP purchased a new stake in Allied Gaming & Entertainment in the third quarter worth $90,000. Virtu Financial LLC bought a new position in shares of Allied Gaming & Entertainment during the 3rd quarter worth $27,000. Miracle Mile Advisors LLC purchased a new stake in Allied Gaming & Entertainment in the 3rd quarter worth about $590,000. Finally, Geode Capital Management LLC increased its holdings in Allied Gaming & Entertainment by 14.4% in the 2nd quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock worth $634,000 after acquiring an additional 30,706 shares during the last quarter. 3.21% of the stock is owned by institutional investors.

Allied Gaming & Entertainment Stock Performance

AGAE opened at $0.37 on Thursday. Allied Gaming & Entertainment has a fifty-two week low of $0.33 and a fifty-two week high of $3.79. The firm has a 50-day moving average of $0.40 and a 200 day moving average of $0.95. The firm has a market cap of $14.06 million, a P/E ratio of -0.69 and a beta of 1.59.

Allied Gaming & Entertainment (NASDAQ:AGAE) last released its earnings results on Wednesday, November 19th. The company reported ($0.14) earnings per share for the quarter. Allied Gaming & Entertainment had a negative net margin of 280.09% and a negative return on equity of 19.56%. The company had revenue of $1.85 million during the quarter.

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.