Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Update

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 2,060,000 shares, an increase of 1,238.5% from the August 31st total of 153,900 shares. Based on an average daily trading volume, of 1,890,000 shares, the short-interest ratio is currently 1.1 days. Approximately 18.0% of the shares of the stock are short sold. Approximately 18.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,890,000 shares, the short-interest ratio is currently 1.1 days.

Allied Gaming & Entertainment Trading Down 3.0%

Shares of NASDAQ:AGAE opened at $0.92 on Wednesday. The company has a market capitalization of $34.94 million, a price-to-earnings ratio of -1.80 and a beta of 1.81. Allied Gaming & Entertainment has a 12 month low of $0.70 and a 12 month high of $3.79. The firm’s 50-day moving average is $1.30 and its 200 day moving average is $1.62.

Allied Gaming & Entertainment (NASDAQ:AGAE) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.11) EPS for the quarter. The firm had revenue of $1.92 million for the quarter. Allied Gaming & Entertainment had a negative net margin of 253.19% and a negative return on equity of 10.27%.

Hedge Funds Weigh In On Allied Gaming & Entertainment

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Geode Capital Management LLC grew its stake in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 14.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,608 shares of the company’s stock after acquiring an additional 30,706 shares during the period. Geode Capital Management LLC owned 0.64% of Allied Gaming & Entertainment worth $634,000 at the end of the most recent reporting period. 3.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Allied Gaming & Entertainment to a “sell” rating in a report on Friday, June 27th.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment, Inc operates as an experiential entertainment company, which engages in the creation of esports venues and live events for both video games and poker. The company was founded in 2017 and is headquartered in New York, NY.