Short Interest in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Expands By 72.1%

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 906,063 shares, an increase of 72.1% from the December 15th total of 526,521 shares. Based on an average trading volume of 658,884 shares, the short-interest ratio is presently 1.4 days. Approximately 4.0% of the company’s shares are sold short. Approximately 4.0% of the company’s shares are sold short. Based on an average trading volume of 658,884 shares, the short-interest ratio is presently 1.4 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Allied Gaming & Entertainment Stock Up 11.1%

Shares of NASDAQ AGAE opened at $0.37 on Thursday. The firm has a market cap of $14.06 million, a PE ratio of -0.69 and a beta of 1.59. Allied Gaming & Entertainment has a 12-month low of $0.33 and a 12-month high of $3.79. The company’s fifty day simple moving average is $0.40 and its 200 day simple moving average is $0.95.

Allied Gaming & Entertainment (NASDAQ:AGAE) last posted its quarterly earnings results on Wednesday, November 19th. The company reported ($0.14) earnings per share for the quarter. The company had revenue of $1.85 million during the quarter. Allied Gaming & Entertainment had a negative net margin of 280.09% and a negative return on equity of 19.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in Allied Gaming & Entertainment during the 3rd quarter worth $27,000. Susquehanna International Group LLP purchased a new stake in shares of Allied Gaming & Entertainment in the third quarter valued at about $90,000. Miracle Mile Advisors LLC bought a new position in shares of Allied Gaming & Entertainment during the third quarter valued at about $590,000. Finally, Geode Capital Management LLC boosted its holdings in Allied Gaming & Entertainment by 14.4% during the second quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock worth $634,000 after purchasing an additional 30,706 shares during the last quarter. Institutional investors own 3.21% of the company’s stock.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment, Inc is a digital media and technology company focused on the development, production and distribution of live amateur sports content in the United States. The company’s flagship InPlay Sports division secures rights to high school and collegiate athletic events and streams those competitions across linear and digital channels. Through strategic partnerships with regional school conferences and venues, Allied Gaming aims to expand the reach of under-served amateur athletics audiences while creating new content monetization opportunities.

Allied’s content portfolio spans live event coverage, on-demand highlights and studio productions designed for distribution on television, web and mobile platforms.