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

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 327,400 shares, a drop of 30.3% from the September 30th total of 469,700 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average trading volume of 1,950,000 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 1,950,000 shares, the short-interest ratio is currently 0.2 days. Currently, 1.8% of the company’s shares are sold short.

Allied Gaming & Entertainment Stock Performance

Shares of AGAE stock opened at $0.60 on Tuesday. The company has a market capitalization of $22.90 million, a P/E ratio of -1.18 and a beta of 1.59. The company’s 50 day moving average price is $0.92 and its two-hundred day moving average price is $1.58. Allied Gaming & Entertainment has a 52 week low of $0.60 and a 52 week high of $3.79.

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

Institutional Trading of Allied Gaming & Entertainment

A hedge fund recently bought a new stake in Allied Gaming & Entertainment stock. Miracle Mile Advisors LLC bought a new position in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 641,500 shares of the company’s stock, valued at approximately $590,000. Miracle Mile Advisors LLC owned 1.69% of Allied Gaming & Entertainment as of its most recent filing with the SEC. Institutional investors and hedge funds own 3.21% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average 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.