Allied Gaming & Entertainment (NASDAQ:AIFA) Stock Price Down 4.4% – Time to Sell?

Allied Gaming & Entertainment Inc. (NASDAQ:AIFA) shares traded down 4.4% during trading on Tuesday . The stock traded as low as $3.03 and last traded at $3.03. Approximately 53,961 shares traded hands during trading, a decline of 89% from the average session volume of 481,261 shares. The stock had previously closed at $3.17.

Wall Street Analyst Weigh In

AIFA has been the topic of a number of analyst reports. Wall Street Zen upgraded Allied Gaming & Entertainment from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Allied Gaming & Entertainment has a consensus rating of “Sell”.

Allied Gaming & Entertainment Stock Up 3.3%

The stock’s 50-day simple moving average is $2.41 and its 200 day simple moving average is $2.40. The firm has a market cap of $19.90 million, a P/E ratio of -0.69 and a beta of 2.49.

Allied Gaming & Entertainment (NASDAQ:AIFA) last posted its quarterly earnings data on Monday, August 17th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.03. Allied Gaming & Entertainment had a negative return on equity of 67.15% and a negative net margin of 438.98%.The firm had revenue of $1.25 million during the quarter, compared to analyst estimates of $0.50 million.

Hedge Funds Weigh In On Allied Gaming & Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Allied Gaming & Entertainment in the 3rd quarter valued at $27,000. Geode Capital Management LLC lifted 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 valued at $634,000 after acquiring an additional 30,706 shares during the period. Renaissance Technologies LLC boosted its stake in Allied Gaming & Entertainment by 84.1% during the first quarter. Renaissance Technologies LLC now owns 127,392 shares of the company’s stock worth $35,000 after acquiring an additional 58,200 shares in the last quarter. XTX Topco Ltd bought a new position in Allied Gaming & Entertainment during the fourth quarter worth $26,000. Finally, Susquehanna International Group LLP acquired a new stake in Allied Gaming & Entertainment in the third quarter worth $90,000. 3.21% of the stock is currently owned by institutional investors.

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.