Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Sees Significant Decline in Short Interest

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 858,244 shares, a decrease of 21.1% from the March 15th total of 1,087,962 shares. Approximately 3.5% of the shares of the company are sold short. Based on an average trading volume of 300,961 shares, the days-to-cover ratio is currently 2.9 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Allied Gaming & Entertainment in a report on Tuesday, April 7th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Allied Gaming & Entertainment during the 3rd quarter worth approximately $27,000. Susquehanna International Group LLP acquired a new position in shares of Allied Gaming & Entertainment during the 3rd quarter worth approximately $90,000. Corient Private Wealth LLC acquired a new position in shares of Allied Gaming & Entertainment during the 4th quarter worth approximately $262,000. Geode Capital Management LLC grew its position 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 worth $634,000 after purchasing an additional 30,706 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Allied Gaming & Entertainment during the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 3.21% of the company’s stock.

Allied Gaming & Entertainment Stock Up 10.6%

Allied Gaming & Entertainment stock opened at $0.52 on Friday. The stock has a market cap of $19.68 million, a P/E ratio of -0.97 and a beta of 1.53. Allied Gaming & Entertainment has a twelve month low of $0.25 and a twelve month high of $3.79. The company’s 50-day moving average price is $0.31 and its two-hundred day moving average price is $0.43.

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.