Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Update

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 327,400 shares, a decrease of 30.3% from the September 30th total of 469,700 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average daily volume of 1,950,000 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 1,950,000 shares, the short-interest ratio is presently 0.2 days. Approximately 1.8% of the shares of the company are short sold.

Allied Gaming & Entertainment Stock Performance

Shares of AGAE opened at $0.58 on Wednesday. The firm has a fifty day moving average of $0.90 and a 200-day moving average of $1.58. The company has a market cap of $21.88 million, a price-to-earnings ratio of -1.13 and a beta of 1.58. Allied Gaming & Entertainment has a 1 year low of $0.56 and a 1 year high of $3.79.

Allied Gaming & Entertainment (NASDAQ:AGAE) last posted its earnings results on Thursday, August 14th. The company reported ($0.11) EPS for the quarter. Allied Gaming & Entertainment had a negative net margin of 253.19% and a negative return on equity of 10.27%. The business had revenue of $1.92 million during the quarter.

Hedge Funds Weigh In On Allied Gaming & Entertainment

An institutional investor recently bought a new position in Allied Gaming & Entertainment stock. Miracle Mile Advisors LLC acquired a new position in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 641,500 shares of the company’s stock, valued at approximately $590,000. Miracle Mile Advisors LLC owned approximately 1.69% of Allied Gaming & Entertainment as of its most recent filing with the SEC. Institutional investors own 3.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Allied Gaming & Entertainment Company Profile

Allied Gaming & Entertainment, Inc operates as an experiential entertainment company, which engages in the creation of esports venues and live events for both video games and poker. The company was founded in 2017 and is headquartered in New York, NY.