Genius Sports (NYSE:GENI) Trading 5.4% Higher – Here’s What Happened

Genius Sports Limited (NYSE:GENI) traded up 5.4% during trading on Tuesday . The company traded as high as $9.85 and last traded at $9.84. 1,618,141 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 2,394,955 shares. The stock had previously closed at $9.34.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GENI shares. Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Genius Sports in a report on Tuesday, November 12th. Macquarie boosted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Oppenheimer increased their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. The Goldman Sachs Group boosted their price target on shares of Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, B. Riley raised their price objective on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $10.39.

Genius Sports Stock Performance

The company has a market cap of $2.24 billion, a P/E ratio of -29.19 and a beta of 1.98. The business’s 50-day moving average price is $7.84 and its 200 day moving average price is $6.76.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. Equities research analysts forecast that Genius Sports Limited will post -0.16 earnings per share for the current year.

Institutional Trading of Genius Sports

Hedge funds and other institutional investors have recently modified their holdings of the stock. Koss Olinger Consulting LLC bought a new position in Genius Sports during the 2nd quarter worth $64,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Genius Sports in the second quarter valued at about $67,000. Sound Income Strategies LLC bought a new position in Genius Sports during the third quarter worth about $78,000. Arkadios Wealth Advisors acquired a new stake in Genius Sports in the 3rd quarter worth about $79,000. Finally, Captrust Financial Advisors bought a new stake in Genius Sports in the 3rd quarter valued at about $84,000. Institutional investors own 81.91% of the company’s stock.

About Genius Sports

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.