Genius Sports (NYSE:GENI) Trading 6% Higher on Analyst Upgrade

Shares of Genius Sports Limited (NYSE:GENI) traded up 6% during trading on Monday after Freedom Capital upgraded the stock to a strong-buy rating. The stock traded as high as $6.63 and last traded at $6.6780. 1,308,627 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 6,192,570 shares. The stock had previously closed at $6.30.

GENI has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genius Sports in a research report on Monday, May 11th. They set a “buy” rating and a $10.00 target price on the stock. B. Riley Financial reiterated a “buy” rating on shares of Genius Sports in a report on Friday, May 8th. Wall Street Zen upgraded Genius Sports from a “strong sell” rating to a “sell” rating in a report on Saturday. BTIG Research decreased their target price on Genius Sports from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Citigroup decreased their target price on Genius Sports from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.44.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GENI. Prelude Capital Management LLC boosted its position in Genius Sports by 1.3% in the third quarter. Prelude Capital Management LLC now owns 92,529 shares of the company’s stock valued at $1,146,000 after buying an additional 1,181 shares during the last quarter. Cetera Investment Advisers increased its holdings in Genius Sports by 10.0% in the 2nd quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock worth $159,000 after buying an additional 1,388 shares during the period. SkyView Investment Advisors LLC raised its position in Genius Sports by 2.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 77,289 shares of the company’s stock worth $802,000 after buying an additional 1,512 shares during the last quarter. Main Management ETF Advisors LLC raised its position in Genius Sports by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 163,647 shares of the company’s stock worth $1,803,000 after buying an additional 1,672 shares during the last quarter. Finally, First Dallas Securities Inc. lifted its stake in Genius Sports by 3.0% during the 4th quarter. First Dallas Securities Inc. now owns 68,500 shares of the company’s stock valued at $755,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Genius Sports Stock Performance

The firm’s 50 day simple moving average is $6.00 and its 200 day simple moving average is $6.24. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -10.94 and a beta of 1.91.

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

Genius Sports Company Profile

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.