Short Interest in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Drops By 16.4%

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) saw a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 651,120 shares, a drop of 16.4% from the January 15th total of 778,713 shares. Approximately 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 598,031 shares, the short-interest ratio is currently 1.1 days. Based on an average daily trading volume, of 598,031 shares, the short-interest ratio is currently 1.1 days. Approximately 2.6% of the shares of the stock are short sold.

Allied Gaming & Entertainment Stock Up 3.5%

Shares of NASDAQ AGAE opened at $0.26 on Monday. The stock’s 50-day simple moving average is $0.35 and its two-hundred day simple moving average is $0.71. Allied Gaming & Entertainment has a twelve month low of $0.25 and a twelve month high of $3.79. The firm has a market capitalization of $9.99 million, a P/E ratio of -0.49 and a beta of 1.63.

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

Hedge Funds Weigh In On Allied Gaming & Entertainment

A number of institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in shares of Allied Gaming & Entertainment during the 3rd quarter valued at $27,000. Susquehanna International Group LLP bought a new position in Allied Gaming & Entertainment in the third quarter valued at $90,000. Miracle Mile Advisors LLC purchased a new stake in Allied Gaming & Entertainment during the third quarter valued at about $590,000. Finally, Geode Capital Management LLC raised its position 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 valued at $634,000 after purchasing an additional 30,706 shares in the last quarter. Institutional investors own 3.21% of the company’s stock.

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.