Genius Sports (NYSE:GENI) Shares Gap Down to $4.73

Genius Sports Limited (NYSE:GENIGet Rating) gapped down before the market opened on Thursday . The stock had previously closed at $4.73, but opened at $4.49. Genius Sports shares last traded at $4.59, with a volume of 331 shares trading hands.

Analysts Set New Price Targets

Several brokerages have issued reports on GENI. Needham & Company LLC upped their price objective on Genius Sports from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Credit Suisse Group cut their price objective on Genius Sports from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 17th. Finally, B. Riley upped their price objective on Genius Sports from $5.25 to $8.00 in a research note on Wednesday, August 17th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.43.

Genius Sports Price Performance

The firm has a market capitalization of $999.61 million, a P/E ratio of -8.16 and a beta of 1.54. The business has a fifty day moving average of $4.39 and a 200-day moving average of $3.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 1.70.

Genius Sports (NYSE:GENIGet Rating) last posted its quarterly earnings results on Thursday, November 10th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. The business had revenue of $78.65 million for the quarter, compared to analysts’ expectations of $77.20 million. Genius Sports had a negative return on equity of 19.15% and a negative net margin of 33.53%. On average, sell-side analysts forecast that Genius Sports Limited will post -0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp increased its position in shares of Genius Sports by 67.0% during the first quarter. Truist Financial Corp now owns 28,348 shares of the company’s stock worth $130,000 after purchasing an additional 11,376 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Genius Sports during the first quarter worth about $214,000. Envestnet Asset Management Inc. increased its stake in Genius Sports by 37.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 64,414 shares of the company’s stock valued at $296,000 after purchasing an additional 17,455 shares in the last quarter. Schrum Private Wealth Management LLC purchased a new position in shares of Genius Sports in the first quarter worth $39,000. Finally, New York State Common Retirement Fund lifted its stake in shares of Genius Sports by 12.8% during the first quarter. New York State Common Retirement Fund now owns 457,095 shares of the company’s stock worth $2,103,000 after buying an additional 51,850 shares during the period. Institutional investors own 34.15% of the company’s stock.

Genius Sports Company Profile

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Genius Sports Limited develops and sells technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.

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