Allied Esports Entertainment (NASDAQ:AESE) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Allied Esports Entertainment (NASDAQ:AESE) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. The firm currently has $2.00 price target on the stock.

According to Zacks, “Allied Esports Entertainment Inc. is a premier esports entertainment company. Allied Esports Entertainment Inc., formerly known as Black Ridge Acquisition Corp., is based in CA, United States. “

Shares of Allied Esports Entertainment stock opened at $1.74 on Thursday. The business has a 50-day simple moving average of $1.95 and a 200-day simple moving average of $2.31. Allied Esports Entertainment has a one year low of $0.86 and a one year high of $4.31.

Allied Esports Entertainment (NASDAQ:AESE) last issued its quarterly earnings results on Sunday, August 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. The firm had revenue of $0.83 million during the quarter. On average, sell-side analysts predict that Allied Esports Entertainment will post -0.52 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of AESE. HRT Financial LP purchased a new stake in Allied Esports Entertainment during the 1st quarter worth about $43,000. Bank of New York Mellon Corp purchased a new stake in Allied Esports Entertainment during the first quarter worth approximately $58,000. PEAK6 Investments LLC acquired a new position in Allied Esports Entertainment in the first quarter valued at approximately $143,000. BlackRock Inc. boosted its holdings in Allied Esports Entertainment by 210.5% in the first quarter. BlackRock Inc. now owns 64,899 shares of the company’s stock valued at $187,000 after purchasing an additional 43,998 shares in the last quarter. Finally, Cowen Investment Management LLC purchased a new position in Allied Esports Entertainment in the second quarter valued at approximately $178,000. Institutional investors own 3.70% of the company’s stock.

About Allied Esports Entertainment

Allied Esports Entertainment, Inc is an esports entertainment company, which engages in the creation of esports venues and live events for both video games and poker. It operates through the following segments: Poker, gaming & entertainment and E-sports. The Poker, gaming & entertainment segment provides televised gaming and entertainment, land-based poker tournaments, online and mobile poker applications through World Poker Tour (WPT).

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