Short Interest in Allied Gaming & Entertainment Inc. (NASDAQ:AIFA) Declines By 87.1%

Allied Gaming & Entertainment Inc. (NASDAQ:AIFA) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 210,172 shares, a decrease of 87.1% from the May 31st total of 1,630,875 shares. Based on an average daily volume of 105,957 shares, the days-to-cover ratio is currently 2.0 days. Approximately 5.1% of the company’s shares are sold short.

Allied Gaming & Entertainment Trading Down 1.2%

Shares of AIFA opened at $2.37 on Friday. The company’s 50-day moving average price is $2.83 and its 200 day moving average price is $2.28. Allied Gaming & Entertainment has a 12-month low of $1.51 and a 12-month high of $19.20. The firm has a market cap of $15.12 million, a P/E ratio of -0.47 and a beta of 2.29.

Allied Gaming & Entertainment (NASDAQ:AIFA) last announced its earnings results on Monday, June 15th. The company reported ($0.83) earnings per share for the quarter. Allied Gaming & Entertainment had a negative return on equity of 69.97% and a negative net margin of 456.92%.The company had revenue of $1.55 million for the quarter.

Institutional Trading of Allied Gaming & Entertainment

Several institutional investors have recently added to or reduced their stakes in AIFA. Geode Capital Management LLC raised its position in Allied Gaming & Entertainment by 14.4% in the second quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock valued at $634,000 after purchasing an additional 30,706 shares during the period. Virtu Financial LLC purchased a new position in shares of Allied Gaming & Entertainment during the third quarter worth $27,000. Susquehanna International Group LLP purchased a new position in shares of Allied Gaming & Entertainment during the third quarter worth $90,000. XTX Topco Ltd acquired a new stake in shares of Allied Gaming & Entertainment in the fourth quarter valued at $26,000. Finally, Corient Private Wealth LLC acquired a new stake in shares of Allied Gaming & Entertainment in the fourth quarter valued at $262,000. Institutional investors and hedge funds own 3.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AIFA shares. Weiss Ratings raised shares of Allied Gaming & Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Allied Gaming & Entertainment from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

About Allied Gaming & Entertainment

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.