Genius Sports (NYSE:GENI) Stock Price Up 6.3%

Genius Sports Limited (NYSE:GENI)’s stock price rose 6.3% during mid-day trading on Wednesday . The company traded as high as $8.14 and last traded at $8.13. Approximately 3,634,850 shares were traded during mid-day trading, an increase of 60% from the average daily volume of 2,274,683 shares. The stock had previously closed at $7.65.

Analyst Upgrades and Downgrades

GENI has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Citigroup started coverage on shares of Genius Sports in a research note on Thursday, June 13th. They set a “buy” rating and a $9.00 target price for the company. JMP Securities boosted their target price on shares of Genius Sports from $8.00 to $9.00 and gave the company a “market outperform” rating in a research note on Thursday, May 9th. Macquarie lowered their target price on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, July 18th. Finally, B. Riley boosted their target price on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Genius Sports currently has a consensus rating of “Buy” and an average price target of $9.45.

Genius Sports Stock Up 1.6 %

The firm’s 50-day moving average price is $6.16 and its 200 day moving average price is $5.98. The firm has a market cap of $1.80 billion, a P/E ratio of -20.00 and a beta of 1.95.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The firm had revenue of $95.50 million for the quarter, compared to the consensus estimate of $94.15 million. Genius Sports had a negative return on equity of 12.98% and a negative net margin of 19.73%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) EPS. On average, equities analysts predict that Genius Sports Limited will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Genius Sports

Several institutional investors have recently bought and sold shares of GENI. Victory Capital Management Inc. acquired a new stake in Genius Sports in the fourth quarter worth about $105,000. Ieq Capital LLC acquired a new stake in Genius Sports in the fourth quarter worth about $927,000. Massachusetts Financial Services Co. MA lifted its holdings in Genius Sports by 20.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,351,090 shares of the company’s stock worth $33,070,000 after purchasing an additional 919,980 shares during the period. Roubaix Capital LLC lifted its holdings in Genius Sports by 18.7% in the fourth quarter. Roubaix Capital LLC now owns 1,111,559 shares of the company’s stock worth $6,869,000 after purchasing an additional 174,884 shares during the period. Finally, Brown Advisory Inc. acquired a new stake in Genius Sports in the fourth quarter worth about $76,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

Genius Sports Company Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.