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

Allied Gaming & Entertainment (NASDAQ:AGAE) announced its earnings results on Thursday. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.34), Zacks reports. Allied Gaming & Entertainment had a negative return on equity of 19.56% and a negative net margin of 280.09%.The business had revenue of $1.93 million for the quarter, compared to analyst estimates of $0.50 million.

Allied Gaming & Entertainment Trading Down 3.7%

Shares of AGAE stock opened at $0.59 on Friday. The company’s 50-day moving average price is $0.41 and its 200-day moving average price is $0.38. The stock has a market cap of $22.19 million, a price-to-earnings ratio of -1.09 and a beta of 2.35. Allied Gaming & Entertainment has a twelve month low of $0.25 and a twelve month high of $3.79.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AGAE shares. Wall Street Zen raised shares of Allied Gaming & Entertainment to a “sell” rating in a research report on Saturday. Weiss Ratings raised shares of Allied Gaming & Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Allied Gaming & Entertainment during the 3rd quarter valued at about $27,000. XTX Topco Ltd acquired a new position in Allied Gaming & Entertainment in the fourth quarter valued at about $26,000. Susquehanna International Group LLP acquired a new position in Allied Gaming & Entertainment in the third quarter valued at about $90,000. Geode Capital Management LLC lifted its position in 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 buying an additional 30,706 shares during the last quarter. Finally, Corient Private Wealth LLC acquired a new position in Allied Gaming & Entertainment in the fourth quarter valued at about $262,000. Institutional investors and hedge funds 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.