Genius Sports (NYSE:GENI) Shares Down 6.6% – Time to Sell?

Shares of Genius Sports Limited (NYSE:GENI) traded down 6.6% during trading on Monday . The stock traded as low as $7.48 and last traded at $7.49. Approximately 1,875,724 shares were traded during mid-day trading, a decline of 70% from the average session volume of 6,291,976 shares. The stock had previously closed at $8.02.

Analyst Ratings Changes

A number of analysts have recently weighed in on GENI shares. Guggenheim boosted their target price on shares of Genius Sports from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. BTIG Research increased their target price on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. B. Riley Financial restated a “buy” rating on shares of Genius Sports in a research report on Friday, May 8th. Freedom Capital upgraded Genius Sports to a “strong-buy” rating in a research report on Monday, July 20th. Finally, Benchmark reissued a “buy” rating on shares of Genius Sports in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.44.

Genius Sports Stock Down 6.5%

The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -11.03 and a beta of 1.90. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a 50-day moving average price of $7.00 and a two-hundred day moving average price of $5.87.

Genius Sports (NYSE:GENI) last posted its earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.21). Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.The firm had revenue of $195.50 million for the quarter, compared to analyst estimates of $184.43 million. During the same quarter last year, the firm posted ($0.21) EPS. The firm’s revenue for the quarter was up 64.7% on a year-over-year basis. On average, sell-side analysts forecast that Genius Sports Limited will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP bought a new stake in shares of Genius Sports in the 2nd quarter worth approximately $83,000. California State Teachers Retirement System increased its holdings in shares of Genius Sports by 56.8% during the second quarter. California State Teachers Retirement System now owns 18,574 shares of the company’s stock worth $113,000 after buying an additional 6,732 shares in the last quarter. Odyssean LLC boosted its stake in Genius Sports by 61.3% in the second quarter. Odyssean LLC now owns 230,581 shares of the company’s stock worth $1,397,000 after purchasing an additional 87,604 shares in the last quarter. Round Rock Advisors LLC bought a new stake in shares of Genius Sports during the second quarter worth $595,000. Finally, Ancora Advisors LLC raised its holdings in shares of Genius Sports by 201.3% in the second quarter. Ancora Advisors LLC now owns 370,631 shares of the company’s stock valued at $2,246,000 after buying an additional 247,610 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

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.