Genius Sports (NYSE:GENI) Upgraded by Wall Street Zen to Sell Rating

Wall Street Zen upgraded shares of Genius Sports (NYSE:GENI) from a strong sell rating to a sell rating in a research report report published on Monday morning.

Several other equities research analysts also recently issued reports on GENI. Citigroup dropped their target price on Genius Sports from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Weiss Ratings cut Genius Sports from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Truist Financial decreased their price objective on Genius Sports from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Stifel Nicolaus boosted their price objective on Genius Sports from $5.00 to $7.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company dropped their price objective on Genius Sports from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Monday, July 20th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $11.14.

Genius Sports Stock Up 2.4%

GENI opened at $7.09 on Monday. The firm has a 50-day moving average price of $6.38 and a 200-day moving average price of $6.00. Genius Sports has a twelve month low of $3.83 and a twelve month high of $13.73. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -11.63 and a beta of 1.90.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). The business had revenue of $187.95 million for the quarter, compared to analysts’ expectations of $170.60 million. Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, sell-side analysts expect that Genius Sports will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GENI. Parallel Advisors LLC bought a new position in shares of Genius Sports in the first quarter worth $25,000. UMB Bank n.a. bought a new stake in Genius Sports during the fourth quarter valued at $63,000. Lexington Hill Partners LLC purchased a new position in Genius Sports during the second quarter worth about $64,000. Osaic Holdings Inc. grew its position in Genius Sports by 72.6% during the second quarter. Osaic Holdings Inc. now owns 10,645 shares of the company’s stock worth $111,000 after buying an additional 4,477 shares in the last quarter. Finally, Orion Porfolio Solutions LLC bought a new position in Genius Sports in the 2nd quarter worth about $112,000. 81.91% of the stock is currently owned by hedge funds and other 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.