Genius Sports (NYSE:GENI) Reaches New 52-Week Low – Here’s What Happened

Genius Sports Limited (NYSE:GENI)’s share price reached a new 52-week low on Wednesday . The company traded as low as $4.92 and last traded at $4.9270, with a volume of 792919 shares traded. The stock had previously closed at $4.99.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Oppenheimer decreased their target price on Genius Sports from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Citigroup cut their price target on Genius Sports from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. UBS Group reaffirmed a “buy” rating on shares of Genius Sports in a research report on Wednesday, March 4th. New Street Research set a $17.00 price objective on Genius Sports in a research note on Thursday, December 4th. Finally, Northland Securities set a $12.00 price objective on Genius Sports in a research report on Friday, February 6th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.84.

Genius Sports Price Performance

The company’s 50 day simple moving average is $7.21 and its 200 day simple moving average is $9.90. The company has a market capitalization of $1.01 billion, a PE ratio of -10.90 and a beta of 1.91.

Genius Sports (NYSE:GENI) last issued its earnings results on Wednesday, March 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.10). The company had revenue of $240.50 million during the quarter, compared to analyst estimates of $234.94 million. Genius Sports had a negative net margin of 16.67% and a negative return on equity of 13.66%. The company’s quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.12) EPS. On average, equities analysts forecast that Genius Sports Limited will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

Several hedge funds have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Genius Sports by 9.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 14,131 shares of the company’s stock valued at $175,000 after buying an additional 1,177 shares during the last quarter. Prelude Capital Management LLC grew its holdings in shares of Genius Sports by 1.3% during the third quarter. Prelude Capital Management LLC now owns 92,529 shares of the company’s stock worth $1,146,000 after buying an additional 1,181 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Genius Sports by 10.0% during the second quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock worth $159,000 after buying an additional 1,388 shares during the last quarter. SkyView Investment Advisors LLC increased its position in Genius Sports by 2.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 77,289 shares of the company’s stock valued at $802,000 after acquiring an additional 1,512 shares during the period. Finally, Main Management ETF Advisors LLC increased its position in Genius Sports by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 163,647 shares of the company’s stock valued at $1,803,000 after acquiring an additional 1,672 shares during the period. Hedge funds and other institutional investors own 81.91% of the company’s stock.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.