Allied Gaming & Entertainment (NASDAQ:AGAE) Announces Quarterly Earnings Results

Allied Gaming & Entertainment (NASDAQ:AGAE) posted its quarterly earnings data on Wednesday. The company reported ($0.14) earnings per share for the quarter, Zacks reports. Allied Gaming & Entertainment had a negative net margin of 253.19% and a negative return on equity of 10.27%.

Allied Gaming & Entertainment Stock Performance

Allied Gaming & Entertainment stock traded up $0.02 during mid-day trading on Wednesday, hitting $0.43. The company’s stock had a trading volume of 224,485 shares, compared to its average volume of 681,718. The company has a 50 day moving average of $0.79 and a 200-day moving average of $1.54. Allied Gaming & Entertainment has a one year low of $0.40 and a one year high of $3.79. The stock has a market cap of $16.42 million, a PE ratio of -0.85 and a beta of 1.58.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AGAE. Geode Capital Management LLC increased its stake in 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 buying an additional 30,706 shares during the period. Virtu Financial LLC purchased a new stake in shares of Allied Gaming & Entertainment in the third quarter valued at approximately $27,000. Finally, Susquehanna International Group LLP purchased a new position in Allied Gaming & Entertainment during the 3rd quarter valued at about $90,000. 3.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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 data from MarketBeat, Allied Gaming & Entertainment currently has an average rating of “Sell”.

Allied Gaming & Entertainment Company Profile

Allied Gaming & Entertainment, Inc operates as an experiential entertainment company, which engages in the creation of esports venues and live events for both video games and poker. The company was founded in 2017 and is headquartered in New York, NY.