Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Update

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 totaling 7,607,104 shares, an increase of 786.4% from the March 31st total of 858,244 shares. Approximately 30.8% of the company’s shares are short sold. Based on an average trading volume of 58,176,648 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Allied Gaming & Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Allied Gaming & Entertainment Stock Up 4.0%

Shares of AGAE traded up $0.02 during trading hours on Friday, reaching $0.52. 1,168,911 shares of the company traded hands, compared to its average volume of 12,801,035. The company’s fifty day moving average price is $0.34 and its two-hundred day moving average price is $0.42. The company has a market capitalization of $19.65 million, a price-to-earnings ratio of -0.96 and a beta of 1.53. Allied Gaming & Entertainment has a 12 month low of $0.25 and a 12 month high of $3.79.

Institutional Investors Weigh In On Allied Gaming & Entertainment

Hedge funds have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in Allied Gaming & Entertainment during the fourth quarter worth about $26,000. Virtu Financial LLC bought a new stake in Allied Gaming & Entertainment during the third quarter worth about $27,000. Susquehanna International Group LLP bought a new stake in Allied Gaming & Entertainment during the third quarter worth about $90,000. Corient Private Wealth LLC bought a new stake in Allied Gaming & Entertainment during the fourth quarter worth about $262,000. Finally, Miracle Mile Advisors LLC bought a new stake in Allied Gaming & Entertainment during the third quarter worth about $590,000. Institutional investors 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.