Allied Gaming & Entertainment Inc. (NASDAQ:AGAE – Get Free Report) was the recipient of a significant drop in short interest in August. As of August 15th, there was short interest totalling 102,900 shares, a drop of 52.8% from the July 31st total of 217,900 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily volume of 107,200 shares, the days-to-cover ratio is currently 1.0 days.
Allied Gaming & Entertainment Stock Down 2.5 %
NASDAQ AGAE opened at $1.19 on Friday. The company has a market capitalization of $54.16 million, a price-to-earnings ratio of -13.22 and a beta of 1.49. Allied Gaming & Entertainment has a twelve month low of $0.61 and a twelve month high of $1.57. The stock has a fifty day simple moving average of $1.29 and a 200 day simple moving average of $1.02.
Allied Gaming & Entertainment (NASDAQ:AGAE – Get Free Report) last released its quarterly earnings results on Monday, August 19th. The company reported ($0.09) EPS for the quarter. Allied Gaming & Entertainment had a negative net margin of 38.47% and a negative return on equity of 3.84%. The company had revenue of $2.64 million during the quarter.
Insider Activity
Institutional Trading of Allied Gaming & Entertainment
An institutional investor recently raised its position in Allied Gaming & Entertainment stock. Innealta Capital LLC raised its position in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE – Free Report) by 100.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 117,582 shares of the company’s stock after purchasing an additional 58,791 shares during the period. Innealta Capital LLC owned 0.27% of Allied Gaming & Entertainment worth $119,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 3.21% of the company’s stock.
About Allied Gaming & Entertainment
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.
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