Allied Gaming & Entertainment (NASDAQ:AIFA) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Allied Gaming & Entertainment (NASDAQ:AIFA) released its quarterly earnings results on Monday. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.03, FiscalAI reports. The firm had revenue of $1.25 million during the quarter, compared to the consensus estimate of $0.50 million. Allied Gaming & Entertainment had a negative net margin of 438.98% and a negative return on equity of 62.67%.

Allied Gaming & Entertainment Trading Up 4.5%

NASDAQ:AIFA opened at $3.03 on Tuesday. The company’s 50-day moving average price is $2.15 and its 200-day moving average price is $2.24. The company has a market cap of $19.33 million, a P/E ratio of -0.67 and a beta of 2.38. Allied Gaming & Entertainment has a twelve month low of $1.51 and a twelve month high of $13.68.

Analyst Upgrades and Downgrades

AIFA has been the subject of several research reports. Wall Street Zen upgraded Allied Gaming & Entertainment from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Allied Gaming & Entertainment currently has an average rating of “Sell”.

Institutional Trading of Allied Gaming & Entertainment

A number of hedge funds have recently bought and sold shares of AIFA. Susquehanna International Group LLP acquired a new position in shares of Allied Gaming & Entertainment during the 3rd quarter worth approximately $90,000. Geode Capital Management LLC increased its holdings in shares of 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 last quarter. Corient Private Wealth LLC purchased a new position in Allied Gaming & Entertainment during the fourth quarter worth approximately $262,000. Virtu Financial LLC purchased a new position in Allied Gaming & Entertainment during the third quarter worth approximately $27,000. Finally, XTX Topco Ltd acquired a new position in Allied Gaming & Entertainment during the fourth quarter worth $26,000. Institutional investors and hedge funds own 3.21% of the company’s stock.

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.