Genius Sports (NYSE:GENI) Trading 8.4% Higher – What’s Next?

Shares of Genius Sports Limited (NYSE:GENI) were up 8.4% during trading on Monday . The company traded as high as $4.50 and last traded at $4.5970. Approximately 424,099 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 6,124,875 shares. The stock had previously closed at $4.24.

Analyst Ratings Changes

GENI has been the subject of several recent research reports. Oppenheimer cut their target price on shares of Genius Sports from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Wall Street Zen cut shares of Genius Sports from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Stifel Nicolaus decreased their target price on Genius Sports from $7.00 to $5.00 and set a “hold” rating on the stock in a report on Thursday, April 9th. Citigroup lowered their target price on Genius Sports from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Northland Securities set a $12.00 price target on Genius Sports in a report on Friday, February 6th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Genius Sports presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.68.

Genius Sports Stock Performance

The company has a market cap of $1.23 billion, a P/E ratio of -8.16 and a beta of 1.80. The firm’s fifty day moving average is $4.60 and its two-hundred day moving average is $7.68.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The business had revenue of $187.95 million during the quarter, compared to analysts’ expectations of $170.60 million. Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. Genius Sports’s revenue was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. On average, equities research analysts expect that Genius Sports Limited will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Genius Sports

A number of hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC purchased a new stake in shares of Genius Sports during the 1st quarter valued at about $25,000. Baer Investment Advisory LLC bought a new stake in shares of Genius Sports during the 1st quarter worth approximately $61,000. UMB Bank n.a. purchased a new position in Genius Sports during the 4th quarter valued at $63,000. Aster Capital Management DIFC Ltd bought a new position in Genius Sports in the 3rd quarter valued at $65,000. Finally, Strs Ohio increased its stake in Genius Sports by 178.9% in the third quarter. Strs Ohio now owns 5,300 shares of the company’s stock worth $66,000 after purchasing an additional 3,400 shares during the period. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

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.