Allied Gaming & Entertainment (NASDAQ:AGAE) Announces Earnings Results

Allied Gaming & Entertainment (NASDAQ:AGAE) released its earnings results on Thursday. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.34), Zacks reports. Allied Gaming & Entertainment had a negative net margin of 280.09% and a negative return on equity of 19.56%. The business had revenue of $1.93 million during the quarter, compared to the consensus estimate of $0.50 million.

Allied Gaming & Entertainment Price Performance

Shares of NASDAQ AGAE opened at $0.59 on Friday. The company has a 50 day simple moving average of $0.41 and a 200 day simple moving average of $0.38. The firm has a market cap of $22.19 million, a PE ratio of -1.09 and a beta of 2.35. Allied Gaming & Entertainment has a 1 year low of $0.25 and a 1 year high of $3.79.

Analysts Set New Price Targets

A number of research analysts have issued reports on AGAE shares. Wall Street Zen upgraded Allied Gaming & Entertainment to a “sell” rating in a research report on Saturday. Weiss Ratings upgraded Allied Gaming & Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC bought a new position in Allied Gaming & Entertainment in the 4th quarter valued at approximately $262,000. Geode Capital Management LLC raised its holdings in Allied Gaming & Entertainment by 14.4% in the 2nd quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock valued at $634,000 after buying an additional 30,706 shares during the last quarter. Susquehanna International Group LLP bought a new position in Allied Gaming & Entertainment in the 3rd quarter valued at approximately $90,000. XTX Topco Ltd bought a new position in Allied Gaming & Entertainment in the 4th quarter valued at approximately $26,000. Finally, Virtu Financial LLC bought a new position in Allied Gaming & Entertainment in the 3rd quarter valued at approximately $27,000. Institutional investors own 3.21% of the company’s stock.

Allied Gaming & Entertainment Company Profile

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.