Genius Sports (NYSE:GENI) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of Genius Sports (NYSE:GENI) from a sell rating to a strong sell rating in a research note published on Sunday,Wall Street Zen reports.

Several other research firms have also recently commented on GENI. The Goldman Sachs Group restated a “buy” rating and issued a $10.50 target price on shares of Genius Sports in a research note on Friday, August 7th. Guggenheim lifted their price objective on Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Benchmark reiterated a “buy” rating on shares of Genius Sports in a research report on Friday, August 28th. Weiss Ratings raised Genius Sports from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. Finally, Needham & Company LLC increased their target price on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.44.

Genius Sports Stock Performance

Shares of GENI stock opened at $6.57 on Friday. The stock’s 50-day moving average price is $7.24 and its 200 day moving average price is $5.96. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $1.62 billion, a PE ratio of -9.65 and a beta of 1.88. Genius Sports has a 52-week low of $3.83 and a 52-week high of $13.69.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.21). The company had revenue of $195.50 million for the quarter, compared to analyst estimates of $184.43 million. Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.The firm’s revenue was up 64.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) earnings per share. As a group, equities research analysts forecast that Genius Sports will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GENI. Wellington Management Group LLP raised its stake in shares of Genius Sports by 11.0% during the 2nd quarter. Wellington Management Group LLP now owns 1,714,882 shares of the company’s stock worth $10,392,000 after buying an additional 169,398 shares during the last quarter. ABS Direct Equity Fund LLC acquired a new stake in Genius Sports in the 1st quarter valued at about $1,772,000. Renaissance Technologies LLC grew its stake in Genius Sports by 277.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,197,700 shares of the company’s stock valued at $9,736,000 after acquiring an additional 1,614,700 shares during the last quarter. IFC Advisors LLC increased its holdings in Genius Sports by 23.2% during the 1st quarter. IFC Advisors LLC now owns 3,583,833 shares of the company’s stock valued at $15,876,000 after acquiring an additional 676,034 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Genius Sports by 65.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,909,945 shares of the company’s stock worth $17,321,000 after acquiring an additional 1,549,816 shares during the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.

About Genius Sports

Genius Sports Limited (NYSE:GENI) is a sports technology and data company that provides official sports data, technology, and digital services to sports leagues, federations, teams, broadcasters, sportsbooks, and brands. Its platforms help clients collect, manage, distribute, and commercialize live sports information across digital channels.

The company’s offerings include live scores and statistics, data feeds for sports betting, fan-engagement tools, video streaming and content services, and advertising and sponsorship technology.