Allied Gaming & Entertainment (NASDAQ:AIFA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Allied Gaming & Entertainment (NASDAQ:AIFA) to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research note on Thursday. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has an average rating of “Sell”.

Allied Gaming & Entertainment Stock Up 6.1%

Shares of NASDAQ AIFA opened at $3.97 on Friday. Allied Gaming & Entertainment has a 12 month low of $1.51 and a 12 month high of $8.93. The business has a fifty day simple moving average of $3.70 and a 200-day simple moving average of $2.87.

Allied Gaming & Entertainment (NASDAQ:AIFA) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. The firm had revenue of $1.25 million for the quarter, compared to analysts’ expectations of $0.50 million. Allied Gaming & Entertainment had a negative return on equity of 67.15% and a negative net margin of 438.98%.

Institutional Investors Weigh In On Allied Gaming & Entertainment

A hedge fund recently raised its position in Allied Gaming & Entertainment stock. Renaissance Technologies LLC grew its position in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AIFA) by 84.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,392 shares of the company’s stock after buying an additional 58,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.34% of Allied Gaming & Entertainment worth $35,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 3.21% of the stock is currently owned by institutional investors.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment is an entertainment company focused on esports and gaming-related experiences. Its activities have included live esports events, gaming tournaments, original content production, and entertainment programming designed to connect players, fans, and brands.

The company has operated gaming venues and mobile event capabilities, including the HyperX Arena Las Vegas and the Allied Esports Truck. These platforms are used for competitive gaming, community events, broadcasts, brand activations, and other interactive entertainment experiences.

Allied Gaming & Entertainment was formerly known as Allied Esports Entertainment and adopted its current name as it broadened its focus beyond traditional esports competition.