Short Interest in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Expands By 786.4%

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 7,607,104 shares, an increase of 786.4% from the March 31st total of 858,244 shares. Based on an average daily volume of 58,176,648 shares, the short-interest ratio is presently 0.1 days. Currently, 30.8% of the shares of the stock are sold short.

Allied Gaming & Entertainment Price Performance

NASDAQ AGAE opened at $0.52 on Friday. The firm has a market cap of $19.65 million, a PE ratio of -0.96 and a beta of 1.53. Allied Gaming & Entertainment has a one year low of $0.25 and a one year high of $3.79. The stock’s 50 day simple moving average is $0.35 and its 200 day simple moving average is $0.41.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AGAE. Virtu Financial LLC acquired a new position in shares of Allied Gaming & Entertainment in the 3rd quarter valued at $27,000. Geode Capital Management LLC lifted its stake 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 valued at $634,000 after purchasing an additional 30,706 shares during the period. XTX Topco Ltd acquired a new position in shares of Allied Gaming & Entertainment in the 4th quarter valued at $26,000. Susquehanna International Group LLP acquired a new position in shares of Allied Gaming & Entertainment in the 3rd quarter valued at $90,000. Finally, Miracle Mile Advisors LLC acquired a new position in shares of Allied Gaming & Entertainment in the 3rd quarter valued at $590,000. 3.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Allied Gaming & Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Allied Gaming & Entertainment Company Profile

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.