Short Interest in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Rises By 60.1%

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 973,151 shares, an increase of 60.1% from the February 12th total of 607,996 shares. Approximately 3.9% of the company’s stock are sold short. Based on an average daily volume of 25,480,853 shares, the short-interest ratio is presently 0.0 days. Based on an average daily volume of 25,480,853 shares, the short-interest ratio is presently 0.0 days. Approximately 3.9% of the company’s stock are sold short.

Hedge Funds Weigh In On Allied Gaming & Entertainment

Hedge funds have recently added to or reduced their stakes in the company. Susquehanna International Group LLP bought a new position in Allied Gaming & Entertainment in the 3rd quarter valued at approximately $90,000. Geode Capital Management LLC increased its holdings in shares of Allied Gaming & Entertainment by 14.4% in the 2nd 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 in the last quarter. Corient Private Wealth LLC bought a new stake in shares of Allied Gaming & Entertainment in the 4th quarter worth $262,000. Virtu Financial LLC purchased a new position in shares of Allied Gaming & Entertainment in the third quarter worth $27,000. Finally, XTX Topco Ltd purchased a new position in shares of Allied Gaming & Entertainment in the fourth quarter worth $26,000. 3.21% of the stock is currently owned by hedge funds and other institutional investors.

Allied Gaming & Entertainment Stock Performance

NASDAQ:AGAE opened at $0.29 on Friday. The firm has a market cap of $10.94 million, a P/E ratio of -0.54 and a beta of 1.58. Allied Gaming & Entertainment has a fifty-two week low of $0.25 and a fifty-two week high of $3.79. The firm has a 50-day simple moving average of $0.32 and a two-hundred day simple moving average of $0.56.

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.