Allied Gaming & Entertainment (NASDAQ:AGAE) Announces Quarterly Earnings Results

Allied Gaming & Entertainment (NASDAQ:AGAE) released its earnings results on Thursday. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.34), Zacks reports. The firm had revenue of $1.93 million during the quarter, compared to the consensus estimate of $0.50 million. Allied Gaming & Entertainment had a negative net margin of 280.09% and a negative return on equity of 19.56%.

Allied Gaming & Entertainment Price Performance

AGAE opened at $0.59 on Friday. Allied Gaming & Entertainment has a fifty-two week low of $0.25 and a fifty-two week high of $3.79. The firm has a market capitalization of $22.19 million, a price-to-earnings ratio of -1.09 and a beta of 2.35. The company’s 50 day moving average price is $0.41 and its two-hundred day moving average price is $0.38.

Analyst Ratings Changes

Several brokerages recently issued reports on AGAE. Wall Street Zen raised shares of Allied Gaming & Entertainment to a “sell” rating in a report on Saturday. Weiss Ratings raised shares of Allied Gaming & Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Allied Gaming & Entertainment currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Allied Gaming & Entertainment

A number of institutional investors have recently added to or reduced their stakes in AGAE. XTX Topco Ltd bought a new stake in Allied Gaming & Entertainment during the 4th quarter worth approximately $26,000. Virtu Financial LLC bought a new stake in Allied Gaming & Entertainment during the 3rd quarter worth approximately $27,000. Susquehanna International Group LLP bought a new stake in Allied Gaming & Entertainment during the 3rd quarter worth approximately $90,000. Corient Private Wealth LLC bought a new stake in Allied Gaming & Entertainment during the 4th quarter worth approximately $262,000. Finally, Geode Capital Management LLC grew its holdings in Allied Gaming & Entertainment by 14.4% during the 2nd quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock worth $634,000 after acquiring an additional 30,706 shares during the last quarter. 3.21% of the stock is owned by institutional investors.

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.