Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Update

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totaling 7,607,104 shares, a growth of 786.4% from the March 31st total of 858,244 shares. Based on an average trading volume of 58,176,648 shares, the short-interest ratio is currently 0.1 days. Approximately 30.8% of the company’s stock are short sold.

Allied Gaming & Entertainment Stock Up 4.0%

Allied Gaming & Entertainment stock traded up $0.02 during trading hours on Friday, hitting $0.52. The stock had a trading volume of 1,168,911 shares, compared to its average volume of 12,801,035. The stock has a market capitalization of $19.65 million, a P/E ratio of -0.96 and a beta of 1.53. Allied Gaming & Entertainment has a 12-month low of $0.25 and a 12-month high of $3.79. The stock’s 50-day moving average price is $0.34 and its 200-day moving average price is $0.42.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Corient Private Wealth LLC purchased a new position in Allied Gaming & Entertainment in the fourth quarter worth about $262,000. Miracle Mile Advisors LLC purchased a new position in Allied Gaming & Entertainment in the third quarter worth about $590,000. Geode Capital Management LLC raised its holdings in Allied Gaming & Entertainment by 14.4% in the second quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock worth $634,000 after buying an additional 30,706 shares during the last quarter. Susquehanna International Group LLP purchased a new position in Allied Gaming & Entertainment in the third quarter worth about $90,000. Finally, XTX Topco Ltd purchased a new position in Allied Gaming & Entertainment in the fourth quarter worth about $26,000. 3.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Allied Gaming & Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Allied Gaming & Entertainment currently has a consensus rating of “Sell”.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment, Inc is a digital media and technology company focused on the development, production and distribution of live amateur sports content in the United States. The company’s flagship InPlay Sports division secures rights to high school and collegiate athletic events and streams those competitions across linear and digital channels. Through strategic partnerships with regional school conferences and venues, Allied Gaming aims to expand the reach of under-served amateur athletics audiences while creating new content monetization opportunities.

Allied’s content portfolio spans live event coverage, on-demand highlights and studio productions designed for distribution on television, web and mobile platforms.