Allied Gaming & Entertainment (NASDAQ:AGAE) Shares Up 2% – Still a Buy?

Shares of Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) rose 2% during mid-day trading on Monday . The company traded as high as $1.06 and last traded at $1.04. Approximately 11,313 shares were traded during trading, a decline of 56% from the average daily volume of 25,707 shares. The stock had previously closed at $1.02.

Allied Gaming & Entertainment Trading Up 2.9 %

The stock has a market cap of $47.19 million, a price-to-earnings ratio of -3.96 and a beta of 1.48. The company has a 50 day simple moving average of $1.00 and a 200-day simple moving average of $1.09.

Institutional Investors Weigh In On Allied Gaming & Entertainment

An institutional investor recently raised its position in Allied Gaming & Entertainment stock. Geode Capital Management LLC grew its holdings in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 19.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 216,856 shares of the company’s stock after purchasing an additional 35,385 shares during the period. Geode Capital Management LLC owned about 0.49% of Allied Gaming & Entertainment worth $297,000 at the end of the most recent quarter. Institutional investors own 3.21% of the company’s stock.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment, Inc operates as an experiential entertainment company, which engages in the creation of esports venues and live events for both video games and poker. The company was founded in 2017 and is headquartered in New York, NY.