Genius Sports (NYSE:GENI) Stock Price Up 8.4% – What’s Next?

Genius Sports Limited (NYSE:GENI) rose 8.4% during mid-day trading on Monday . The company traded as high as $4.50 and last traded at $4.5970. Approximately 424,099 shares traded hands during trading, a decline of 93% from the average daily volume of 6,124,875 shares. The stock had previously closed at $4.24.

Wall Street Analysts Forecast Growth

GENI has been the subject of several research reports. Wall Street Zen cut shares of Genius Sports from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Northland Securities set a $12.00 target price on shares of Genius Sports in a report on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Genius Sports in a research note on Friday, March 27th. Stifel Nicolaus lowered their price target on Genius Sports from $7.00 to $5.00 and set a “hold” rating on the stock in a report on Thursday, April 9th. Finally, Wells Fargo & Company dropped their price target on Genius Sports from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.68.

Genius Sports Price Performance

The company has a 50-day moving average of $4.58 and a two-hundred day moving average of $7.59. The company has a market capitalization of $1.24 billion, a PE ratio of -8.22 and a beta of 1.80.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The company had revenue of $187.95 million during the quarter, compared to the consensus estimate of $170.60 million. Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period last year, the business earned ($0.03) EPS. As a group, research analysts anticipate that Genius Sports Limited will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Genius Sports by 79.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,293,172 shares of the company’s stock worth $16,009,000 after buying an additional 572,607 shares during the period. New York State Common Retirement Fund raised its holdings in Genius Sports by 395.5% during the third quarter. New York State Common Retirement Fund now owns 979,000 shares of the company’s stock valued at $12,120,000 after acquiring an additional 781,411 shares during the period. Penn Capital Management Company LLC lifted its position in shares of Genius Sports by 2,593.7% in the third quarter. Penn Capital Management Company LLC now owns 1,219,711 shares of the company’s stock valued at $15,116,000 after acquiring an additional 1,174,431 shares in the last quarter. Quent Capital LLC bought a new position in shares of Genius Sports in the fourth quarter worth about $2,840,000. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Genius Sports by 82.7% in the third quarter. Westfield Capital Management Co. LP now owns 5,850,083 shares of the company’s stock worth $72,424,000 after acquiring an additional 2,647,948 shares during the period. 81.91% of the stock is currently owned by institutional investors.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.