Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Down 77.2% in September

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 469,700 shares, a decline of 77.2% from the September 15th total of 2,060,000 shares. Approximately 3.1% of the company’s shares are sold short. Based on an average daily trading volume, of 1,910,000 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 1,910,000 shares, the short-interest ratio is currently 0.2 days. Approximately 3.1% of the company’s shares are sold short.

Hedge Funds Weigh In On Allied Gaming & Entertainment

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Geode Capital Management LLC boosted its position in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 14.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 244,608 shares of the company’s stock after purchasing an additional 30,706 shares during the quarter. Geode Capital Management LLC owned approximately 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.

Allied Gaming & Entertainment Stock Down 4.3%

Shares of AGAE opened at $0.71 on Friday. The business has a fifty day moving average of $1.07 and a 200 day moving average of $1.59. The company has a market cap of $27.03 million, a PE ratio of -1.39 and a beta of 1.67. Allied Gaming & Entertainment has a 52-week low of $0.70 and a 52-week high of $3.79.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research report on Wednesday, October 8th. Wall Street Zen raised Allied Gaming & Entertainment to a “sell” rating in a research note on Friday, June 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.