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

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) saw a significant decrease in short interest in March. As of March 31st, there was short interest totaling 858,244 shares, a decrease of 21.1% from the March 15th total of 1,087,962 shares. Based on an average daily volume of 300,961 shares, the short-interest ratio is presently 2.9 days. Approximately 3.5% of the company’s shares are sold short.

Institutional Trading of Allied Gaming & Entertainment

Several hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Allied Gaming & Entertainment in the third quarter valued at $27,000. Geode Capital Management LLC raised its stake in shares of Allied Gaming & Entertainment by 14.4% in the second quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock valued at $634,000 after acquiring an additional 30,706 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Allied Gaming & Entertainment in the fourth quarter valued at $26,000. Susquehanna International Group LLP acquired a new stake in shares of Allied Gaming & Entertainment in the third quarter valued at $90,000. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of Allied Gaming & Entertainment in the third quarter valued at $590,000. 3.21% of the stock is currently owned by institutional investors and hedge funds.

Allied Gaming & Entertainment Stock Up 43.9%

NASDAQ:AGAE opened at $0.47 on Thursday. The stock’s fifty day moving average is $0.30 and its two-hundred day moving average is $0.43. Allied Gaming & Entertainment has a 52 week low of $0.25 and a 52 week high of $3.79. The stock has a market capitalization of $17.80 million, a price-to-earnings ratio of -0.87 and a beta of 1.53.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Allied Gaming & Entertainment in a research note on Tuesday, April 7th. One investment 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 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.