Genius Sports (NYSE:GENI) Trading 6.7% Higher – Here’s Why

Genius Sports Limited (NYSE:GENI) rose 6.7% on Friday . The stock traded as high as $5.76 and last traded at $5.8060. Approximately 801,489 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 6,380,544 shares. The stock had previously closed at $5.44.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Oppenheimer reduced their price target on shares of Genius Sports from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Benchmark reiterated a “buy” rating on shares of Genius Sports in a research report on Thursday, March 5th. Weiss Ratings upgraded shares of Genius Sports from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. B. Riley Financial reissued a “buy” rating on shares of Genius Sports in a research note on Friday, May 8th. Finally, Citigroup decreased their target price on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Genius Sports presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.68.

Genius Sports Price Performance

The business has a fifty day moving average price of $5.36 and a 200 day moving average price of $6.80. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -10.17 and a beta of 1.90.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The company had revenue of $187.95 million during the quarter, compared to analyst estimates of $170.60 million. Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) EPS. Research analysts anticipate that Genius Sports Limited will post -0.12 earnings per share for the current year.

Institutional Trading of Genius Sports

A number of institutional investors have recently made changes to their positions in GENI. Parallel Advisors LLC acquired a new position in shares of Genius Sports during the first quarter valued at approximately $25,000. Baer Investment Advisory LLC acquired a new stake in Genius Sports in the first quarter worth approximately $61,000. UMB Bank n.a. bought a new position in Genius Sports during the 4th quarter valued at $63,000. Aster Capital Management DIFC Ltd bought a new position in Genius Sports during the 3rd quarter valued at $65,000. Finally, Pacer Advisors Inc. increased its position in shares of Genius Sports by 29.1% during the 1st quarter. Pacer Advisors Inc. now owns 15,270 shares of the company’s stock valued at $68,000 after purchasing an additional 3,440 shares during the period. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Company Profile

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.