Short Interest in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Drops By 14.1%

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the recipient of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 778,713 shares, a decrease of 14.1% from the December 31st total of 906,063 shares. Based on an average daily trading volume, of 652,533 shares, the short-interest ratio is presently 1.2 days. Currently, 3.2% of the shares of the company are sold short. Currently, 3.2% of the shares of the company are sold short. Based on an average daily trading volume, of 652,533 shares, the short-interest ratio is presently 1.2 days.

Allied Gaming & Entertainment Stock Down 1.6%

AGAE opened at $0.28 on Wednesday. The company has a market cap of $10.51 million, a price-to-earnings ratio of -0.52 and a beta of 1.63. The firm’s fifty day simple moving average is $0.37 and its two-hundred day simple moving average is $0.79. Allied Gaming & Entertainment has a 52-week low of $0.27 and a 52-week high of $3.79.

Allied Gaming & Entertainment (NASDAQ:AGAE) last released its quarterly earnings results on Wednesday, November 19th. The company reported ($0.14) earnings per share for the quarter. The company had revenue of $1.85 million for the quarter. Allied Gaming & Entertainment had a negative return on equity of 19.56% and a negative net margin of 280.09%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AGAE. Geode Capital Management LLC increased its holdings in shares of Allied Gaming & Entertainment by 14.4% in the second quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock valued at $634,000 after purchasing an additional 30,706 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of Allied Gaming & Entertainment in the 3rd quarter worth $590,000. Virtu Financial LLC purchased a new position in shares of Allied Gaming & Entertainment during the 3rd quarter worth $27,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Allied Gaming & Entertainment during the 3rd quarter valued at about $90,000. 3.21% of the stock is owned by institutional investors and hedge funds.

Allied Gaming & Entertainment Company Profile

Allied Gaming & Entertainment, Inc is a digital media and technology company focused on the development, production and distribution of live amateur sports content in the United States. The company’s flagship InPlay Sports division secures rights to high school and collegiate athletic events and streams those competitions across linear and digital channels. Through strategic partnerships with regional school conferences and venues, Allied Gaming aims to expand the reach of under-served amateur athletics audiences while creating new content monetization opportunities.

Allied’s content portfolio spans live event coverage, on-demand highlights and studio productions designed for distribution on television, web and mobile platforms.