Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Up 6.6% in April

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 81,900 shares, an increase of 6.6% from the March 31st total of 76,800 shares. Based on an average daily volume of 48,800 shares, the short-interest ratio is presently 1.7 days. Approximately 2.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Allied Gaming & Entertainment stock. Kure Advisory LLC purchased a new stake in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 32,457 shares of the company’s stock, valued at approximately $34,000. Kure Advisory LLC owned 0.09% of Allied Gaming & Entertainment as of its most recent filing with the SEC. Institutional investors and hedge funds own 3.21% of the company’s stock.

Allied Gaming & Entertainment Price Performance

Shares of Allied Gaming & Entertainment stock opened at $0.82 on Wednesday. The stock has a market cap of $36.37 million, a P/E ratio of -8.24 and a beta of 1.31. The stock’s 50 day simple moving average is $0.93 and its 200-day simple moving average is $1.00. Allied Gaming & Entertainment has a 1-year low of $0.76 and a 1-year high of $1.50.

Allied Gaming & Entertainment (NASDAQ:AGAE) last issued its earnings results on Tuesday, March 26th. The company reported $0.02 earnings per share for the quarter. The business had revenue of $179.67 million for the quarter. Allied Gaming & Entertainment had a negative return on equity of 4.17% and a negative net margin of 46.98%.

Allied Gaming & Entertainment Company Profile

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.