Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Down 14.1% in January

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 778,713 shares, a decrease of 14.1% from the December 31st total of 906,063 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average daily trading volume, of 652,533 shares, the short-interest ratio is presently 1.2 days. Based on an average daily trading volume, of 652,533 shares, the short-interest ratio is presently 1.2 days. Approximately 3.2% of the shares of the company are short sold.

Allied Gaming & Entertainment Trading Down 2.3%

Shares of AGAE stock opened at $0.28 on Tuesday. Allied Gaming & Entertainment has a 1 year low of $0.28 and a 1 year high of $3.79. The firm’s fifty day simple moving average is $0.37 and its 200 day simple moving average is $0.81. The firm has a market capitalization of $10.68 million, a P/E ratio of -0.52 and a beta of 1.63.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Allied Gaming & Entertainment

Several institutional investors have recently modified their holdings of AGAE. Susquehanna International Group LLP acquired a new position in shares of Allied Gaming & Entertainment in the third quarter valued at $90,000. Virtu Financial LLC bought a new stake in Allied Gaming & Entertainment in the 3rd quarter valued at $27,000. Miracle Mile Advisors LLC acquired a new position in shares of Allied Gaming & Entertainment in the 3rd quarter valued at $590,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Allied Gaming & Entertainment by 14.4% during 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 period. Institutional investors and hedge funds own 3.21% of the company’s stock.

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.