Short Interest in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Increases By 6.6%

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 81,900 shares, an increase of 6.6% from the March 31st total of 76,800 shares. Based on an average daily volume of 48,800 shares, the days-to-cover ratio is presently 1.7 days. Currently, 2.1% of the company’s stock are short sold.

Insiders Place Their Bets

In other news, major shareholder Roy Choi purchased 159,665 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were purchased at an average price of $1.26 per share, for a total transaction of $201,177.90. Following the completion of the acquisition, the insider now directly owns 8,741,208 shares in the company, valued at approximately $11,013,922.08. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 39.40% of the company’s stock.

Institutional Investors Weigh In On Allied Gaming & Entertainment

A hedge fund recently bought a new stake in Allied Gaming & Entertainment stock. Kure Advisory LLC purchased a new stake in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 32,457 shares of the company’s stock, valued at approximately $34,000. Kure Advisory LLC owned 0.09% of Allied Gaming & Entertainment at the end of the most recent reporting period. Institutional investors and hedge funds own 3.21% of the company’s stock.

Allied Gaming & Entertainment Price Performance

Shares of NASDAQ:AGAE opened at $0.81 on Tuesday. Allied Gaming & Entertainment has a 1 year low of $0.76 and a 1 year high of $1.50. The company has a market cap of $35.75 million, a P/E ratio of -8.10 and a beta of 1.31. The stock’s fifty day moving average price is $0.93 and its 200-day moving average price is $1.00.

Allied Gaming & Entertainment (NASDAQ:AGAE) last posted its earnings results on Tuesday, March 26th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $179.67 million for the quarter. Allied Gaming & Entertainment had a negative net margin of 46.98% and a negative return on equity of 4.17%.

Allied Gaming & Entertainment Company Profile

Allied Gaming & Entertainment Inc provides entertainment and gaming products worldwide. It operates esports properties to connect players and fans through a network of connected arenas; a flagship gaming arena located at the Luxor Hotel in Las Vegas, Nevada; a mobile esports truck that serves as a battleground and content generation hub; and a studio for recording and streaming gaming events.