Genius Sports (NYSE:GENI) Trading 3.5% Higher – Still a Buy?

Genius Sports Limited (NYSE:GENI)’s stock price traded up 3.5% on Thursday . The stock traded as high as $9.94 and last traded at $9.99. 490,449 shares changed hands during trading, a decline of 80% from the average session volume of 2,485,925 shares. The stock had previously closed at $9.65.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GENI shares. Lake Street Capital upped their price target on shares of Genius Sports from $10.50 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group upped their target price on shares of Genius Sports from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Wednesday, March 5th. JMP Securities reissued a “market outperform” rating and set a $11.00 price target on shares of Genius Sports in a report on Monday, January 27th. B. Riley began coverage on Genius Sports in a research note on Tuesday. They issued a “buy” rating for the company. Finally, Citizens Jmp cut Genius Sports from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.23.

Genius Sports Trading Up 3.1 %

The business has a 50-day moving average price of $9.17 and a 200 day moving average price of $8.58. The stock has a market capitalization of $2.23 billion, a P/E ratio of -32.38 and a beta of 2.14.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The business had revenue of $175.53 million during the quarter, compared to analysts’ expectations of $175.52 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. During the same period in the previous year, the business earned ($0.10) earnings per share. On average, sell-side analysts predict that Genius Sports Limited will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GENI. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Genius Sports in the 4th quarter worth approximately $58,000. Captrust Financial Advisors purchased a new position in Genius Sports during the third quarter worth $84,000. Walleye Trading LLC increased its position in Genius Sports by 169.9% during the third quarter. Walleye Trading LLC now owns 12,155 shares of the company’s stock valued at $95,000 after acquiring an additional 29,555 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Genius Sports by 39.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,182 shares of the company’s stock valued at $105,000 after acquiring an additional 3,429 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of Genius Sports in the fourth quarter valued at $129,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

About Genius Sports

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.