Allied Gaming & Entertainment (NASDAQ:AIFA) Raised to “Hold” at Wall Street Zen

Allied Gaming & Entertainment (NASDAQ:AIFA) was upgraded by equities researchers at Wall Street Zen to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research note on Thursday. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Allied Gaming & Entertainment Price Performance

Shares of AIFA opened at $3.74 on Friday. The company has a 50 day moving average of $3.66 and a two-hundred day moving average of $2.85. Allied Gaming & Entertainment has a twelve month low of $1.51 and a twelve month high of $8.93. The company has a market cap of $24.01 million, a price-to-earnings ratio of -0.83 and a beta of 2.44.

Allied Gaming & Entertainment (NASDAQ:AIFA) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. The business had revenue of $1.25 million for the quarter, compared to the consensus estimate of $0.50 million. Allied Gaming & Entertainment had a negative return on equity of 67.15% and a negative net margin of 438.98%.

Hedge Funds Weigh In On Allied Gaming & Entertainment

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Renaissance Technologies LLC boosted its position in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AIFA) by 84.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 127,392 shares of the company’s stock after acquiring an additional 58,200 shares during the quarter. Renaissance Technologies LLC owned about 0.34% of Allied Gaming & Entertainment worth $35,000 at the end of the most recent reporting period. 3.21% of the stock is owned by institutional investors.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment is an entertainment company focused on esports and gaming-related experiences. Its activities have included live esports events, gaming tournaments, original content production, and entertainment programming designed to connect players, fans, and brands.

The company has operated gaming venues and mobile event capabilities, including the HyperX Arena Las Vegas and the Allied Esports Truck. These platforms are used for competitive gaming, community events, broadcasts, brand activations, and other interactive entertainment experiences.

Allied Gaming & Entertainment was formerly known as Allied Esports Entertainment and adopted its current name as it broadened its focus beyond traditional esports competition.