Genius Sports (NYSE:GENI) Stock Price Up 6% After Analyst Upgrade

Genius Sports Limited (NYSE:GENI) shares traded up 6% during trading on Monday after Freedom Capital upgraded the stock to a strong-buy rating. The stock traded as high as $6.63 and last traded at $6.6780. Approximately 1,308,627 shares were traded during trading, a decline of 79% from the average session volume of 6,192,570 shares. The stock had previously closed at $6.30.

Several other brokerages have also recently issued reports on GENI. Weiss Ratings cut Genius Sports from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Citigroup cut their target price on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Wells Fargo & Company reduced their target price on shares of Genius Sports from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Monday. Needham & Company LLC decreased their price target on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Genius Sports in a report on Monday, May 11th. They set a “buy” rating and a $10.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.44.

Hedge Funds Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently bought and sold shares of GENI. Lexington Hill Partners LLC acquired a new position in shares of Genius Sports during the 2nd quarter worth $64,000. Moody National Bank Trust Division lifted its position in shares of Genius Sports by 32.9% in the second quarter. Moody National Bank Trust Division now owns 589,959 shares of the company’s stock valued at $3,575,000 after acquiring an additional 146,044 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Genius Sports by 29.1% during the first quarter. Pacer Advisors Inc. now owns 15,270 shares of the company’s stock valued at $68,000 after acquiring an additional 3,440 shares during the last quarter. Parallel Advisors LLC purchased a new stake in Genius Sports during the 1st quarter worth about $25,000. Finally, Ritter Alpha LP purchased a new position in Genius Sports in the 1st quarter valued at about $77,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Genius Sports Trading Down 1.1%

The company’s 50 day simple moving average is $6.00 and its 200-day simple moving average is $6.24. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -10.94 and a beta of 1.91.

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

Genius Sports Company Profile

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.