Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Sees Significant Decline in Short Interest

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the recipient of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 85,300 shares, a decrease of 6.7% from the February 29th total of 91,400 shares. Based on an average daily volume of 62,400 shares, the short-interest ratio is presently 1.4 days. Currently, 2.7% of the shares of the stock are sold short.

Allied Gaming & Entertainment Trading Up 1.5 %

Shares of Allied Gaming & Entertainment stock opened at $0.91 on Wednesday. The stock has a market capitalization of $33.55 million, a price-to-earnings ratio of -9.11 and a beta of 1.31. Allied Gaming & Entertainment has a 1-year low of $0.76 and a 1-year high of $1.50. The firm’s 50-day moving average price is $1.05 and its two-hundred day moving average price is $1.00.

Allied Gaming & Entertainment (NASDAQ:AGAE) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $179.67 million for the quarter. Allied Gaming & Entertainment had a negative net margin of 46.98% and a negative return on equity of 4.29%.

Insider Buying and Selling

In other Allied Gaming & Entertainment news, major shareholder Roy Choi purchased 159,665 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was purchased at an average price of $1.26 per share, with a total value of $201,177.90. Following the completion of the transaction, the insider now directly owns 8,741,208 shares of the company’s stock, valued at approximately $11,013,922.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Allied Gaming & Entertainment news, major shareholder Roy Choi purchased 159,665 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was purchased at an average price of $1.26 per share, with a total value of $201,177.90. Following the completion of the transaction, the insider now directly owns 8,741,208 shares of the company’s stock, valued at approximately $11,013,922.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Knighted Pastures Llc purchased 28,876 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was acquired at an average cost of $0.98 per share, with a total value of $28,298.48. Following the transaction, the insider now directly owns 8,306,374 shares of the company’s stock, valued at $8,140,246.52. The disclosure for this purchase can be found here. Insiders acquired 209,841 shares of company stock valued at $253,545 over the last quarter. Corporate insiders own 39.40% of the company’s stock.

Institutional Trading of Allied Gaming & Entertainment

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in Allied Gaming & Entertainment during the third quarter worth about $26,000. Renaissance Technologies LLC bought a new stake in shares of Allied Gaming & Entertainment during the second quarter valued at approximately $32,000. Citadel Advisors LLC bought a new stake in shares of Allied Gaming & Entertainment during the second quarter valued at approximately $33,000. Kure Advisory LLC bought a new stake in shares of Allied Gaming & Entertainment during the fourth quarter valued at approximately $34,000. Finally, Northern Trust Corp grew its stake in shares of Allied Gaming & Entertainment by 85.1% during the fourth quarter. Northern Trust Corp now owns 37,502 shares of the company’s stock valued at $40,000 after purchasing an additional 17,241 shares during the last quarter. 3.21% of the stock is owned by institutional investors.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment Inc provides entertainment and gaming products worldwide. It operates esports properties to connect players and fans through a network of connected arenas; a flagship gaming arena located at the Luxor Hotel in Las Vegas, Nevada; a mobile esports truck that serves as a battleground and content generation hub; and a studio for recording and streaming gaming events.