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

Allied Gaming & Entertainment (NASDAQ:AIFA) announced its quarterly earnings results on Friday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.03, FiscalAI reports. Allied Gaming & Entertainment had a negative net margin of 456.92% and a negative return on equity of 69.97%. The firm had revenue of $1.25 million during the quarter, compared to analysts’ expectations of $0.50 million.

Allied Gaming & Entertainment Trading Down 0.3%

Shares of AIFA traded down $0.01 on Friday, reaching $2.90. The company’s stock had a trading volume of 166,824 shares, compared to its average volume of 1,207,501. Allied Gaming & Entertainment has a twelve month low of $1.51 and a twelve month high of $13.68. The stock has a market capitalization of $18.50 million, a PE ratio of -0.57 and a beta of 2.38. The firm has a fifty day moving average of $2.12 and a 200-day moving average of $2.23.

Institutional Investors Weigh In On Allied Gaming & Entertainment

Several institutional investors have recently bought and sold shares of AIFA. Virtu Financial LLC purchased a new stake in Allied Gaming & Entertainment in the 3rd quarter valued at $27,000. XTX Topco Ltd purchased a new position in Allied Gaming & Entertainment during the 4th quarter worth $26,000. Susquehanna International Group LLP purchased a new position in Allied Gaming & Entertainment during the 3rd quarter worth $90,000. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 30,706 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new stake in shares of Allied Gaming & Entertainment in the 4th quarter worth $262,000. Institutional investors own 3.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Allied Gaming & Entertainment from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a 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 presently has a consensus rating of “Sell”.

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.