Genius Sports (NYSE:GENI) Stock Price Up 10.2% After Analyst Upgrade

Shares of Genius Sports Limited (NYSE:GENI) shot up 10.2% during mid-day trading on Monday after The Goldman Sachs Group upgraded the stock to a strong-buy rating. The company traded as high as $7.20 and last traded at $7.14. Approximately 997,167 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 6,166,786 shares. The stock had previously closed at $6.48.

GENI has been the subject of several other reports. Needham & Company LLC cut their price target on Genius Sports from $14.00 to $10.00 and set a “buy” rating for the company in a report on Friday, May 8th. Truist Financial lowered their price objective on Genius Sports from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. B. Riley Financial reiterated a “buy” rating on shares of Genius Sports in a research note on Friday, May 8th. Wells Fargo & Company reduced their target price on Genius Sports from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday, July 20th. Finally, Roth Capital set a $10.00 price target on Genius Sports in a research note on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Genius Sports has a consensus rating of “Moderate Buy” and an average price target of $11.19.

Institutional Trading of Genius Sports

Institutional investors have recently made changes to their positions in the stock. TimesSquare Capital Management LLC purchased a new position in shares of Genius Sports in the 4th quarter worth $59,851,000. Senvest Management LLC raised its holdings in shares of Genius Sports by 45.1% in the 1st quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock worth $60,486,000 after purchasing an additional 4,243,157 shares during the period. Invesco Ltd. lifted its stake in shares of Genius Sports by 3,584.2% in the 2nd quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock valued at $34,233,000 after purchasing an additional 3,202,290 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Genius Sports by 785.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,289,270 shares of the company’s stock worth $36,248,000 after purchasing an additional 2,917,830 shares during the period. Finally, Voss Capital LP increased its position in Genius Sports by 35.4% during the 4th quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock worth $122,322,000 after purchasing an additional 2,900,000 shares in the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

Genius Sports Stock Up 0.2%

The company’s fifty day moving average is $6.22 and its 200 day moving average is $6.10. The stock has a market cap of $1.79 billion, a PE ratio of -11.94 and a beta of 1.91.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The business had revenue of $187.95 million during the quarter, compared to analyst estimates of $170.60 million. Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.Genius Sports’s revenue was up 30.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.03) EPS. Equities analysts expect that Genius Sports Limited will post -0.12 EPS for the current year.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.