Genius Sports (NYSE:GENI) Stock Price Up 6% – Here’s What Happened

Genius Sports Limited (NYSE:GENI)’s stock price traded up 6% on Monday . The company traded as high as $6.63 and last traded at $6.6780. Approximately 1,308,627 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 6,192,570 shares. The stock had previously closed at $6.30.

Analyst Ratings Changes

A number of research analysts recently issued reports on GENI shares. Roth Capital set a $10.00 price objective on shares of Genius Sports in a report on Friday, May 8th. B. Riley Financial reissued a “buy” rating on shares of Genius Sports in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genius Sports in a report on Monday, May 11th. They issued a “buy” rating and a $10.00 price target for the company. Needham & Company LLC lowered their price objective on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, BTIG Research lowered their price objective on shares of Genius Sports from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Genius Sports has an average rating of “Moderate Buy” and a consensus target price of $11.44.

Genius Sports Trading Up 7.4%

The company has a fifty day moving average price of $5.91 and a two-hundred day moving average price of $6.30. The firm has a market cap of $1.67 billion, a P/E ratio of -11.09 and a beta of 1.91.

Genius Sports (NYSE:GENI) last posted its earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). The business had revenue of $187.95 million for the quarter, compared to the consensus estimate of $170.60 million. Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.Genius Sports’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) earnings per share. As a group, sell-side analysts expect that Genius Sports Limited will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Genius Sports

Several large investors have recently made changes to their positions in the stock. Lexington Hill Partners LLC acquired a new stake in shares of Genius Sports during the second quarter worth $64,000. Moody National Bank Trust Division boosted its stake in Genius Sports by 32.9% in the 2nd quarter. Moody National Bank Trust Division now owns 589,959 shares of the company’s stock worth $3,575,000 after purchasing an additional 146,044 shares during the period. Pacer Advisors Inc. increased its holdings in Genius Sports by 29.1% during the 1st quarter. Pacer Advisors Inc. now owns 15,270 shares of the company’s stock worth $68,000 after purchasing an additional 3,440 shares in the last quarter. Parallel Advisors LLC bought a new position in Genius Sports during the 1st quarter worth about $25,000. Finally, Ritter Alpha LP acquired a new stake in shares of Genius Sports in the 1st quarter valued at about $77,000. 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.