Allied Gaming & Entertainment (NASDAQ:AIFA) Trading Up 4.5% – Should You Buy?

Shares of Allied Gaming & Entertainment Inc. (NASDAQ:AIFA) rose 4.5% during trading on Tuesday . The company traded as high as $1.7550 and last traded at $1.64. 25,638 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 23,346 shares. The stock had previously closed at $1.57.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Allied Gaming & Entertainment from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Allied Gaming & Entertainment has an average rating of “Sell”.

Allied Gaming & Entertainment Stock Performance

The stock has a market cap of $10.21 million, a PE ratio of -0.31 and a beta of 2.38. The company’s 50-day moving average price is $2.18 and its two-hundred day moving average price is $2.21.

Allied Gaming & Entertainment (NASDAQ:AIFA) last announced its earnings results on Monday, June 15th. The company reported ($0.83) earnings per share (EPS) for the quarter. Allied Gaming & Entertainment had a negative return on equity of 69.97% and a negative net margin of 456.92%.The company had revenue of $1.55 million during the quarter.

Hedge Funds Weigh In On Allied Gaming & Entertainment

Large investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Allied Gaming & Entertainment during the third quarter worth approximately $27,000. Geode Capital Management LLC grew its holdings in shares of Allied Gaming & Entertainment by 14.4% during 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 last quarter. Renaissance Technologies LLC raised its position in Allied Gaming & Entertainment by 84.1% in the 1st quarter. Renaissance Technologies LLC now owns 127,392 shares of the company’s stock worth $35,000 after purchasing an additional 58,200 shares during the period. XTX Topco Ltd bought a new stake in Allied Gaming & Entertainment in the fourth quarter worth $26,000. Finally, Susquehanna International Group LLP purchased a new stake in Allied Gaming & Entertainment during the third quarter valued at about $90,000. 3.21% of the stock is owned by hedge funds and other institutional investors.

About Allied Gaming & Entertainment

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.