Allied Gaming & Entertainment (NASDAQ:AGAE) Issues Quarterly Earnings Results

Allied Gaming & Entertainment (NASDAQ:AGAE) released its quarterly earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, Zacks reports. Allied Gaming & Entertainment had a negative net margin of 253.19% and a negative return on equity of 10.27%.

Allied Gaming & Entertainment Price Performance

AGAE traded up $0.02 on Wednesday, reaching $0.43. 224,485 shares of the stock were exchanged, compared to its average volume of 681,718. The company’s 50-day moving average price is $0.79 and its 200 day moving average price is $1.54. The firm has a market capitalization of $16.42 million, a PE ratio of -0.85 and a beta of 1.58. Allied Gaming & Entertainment has a fifty-two week low of $0.40 and a fifty-two week high of $3.79.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Allied Gaming & Entertainment by 14.4% during the second 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 during the period. Virtu Financial LLC acquired a new position in Allied Gaming & Entertainment in the 3rd quarter worth approximately $27,000. Finally, Susquehanna International Group LLP purchased a new position in Allied Gaming & Entertainment during the 3rd quarter worth approximately $90,000. 3.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company 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.