Allied Gaming & Entertainment (NASDAQ:AIFA – Get Free Report) announced its quarterly earnings results on Friday. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03, FiscalAI reports. The business had revenue of $1.25 million for the quarter, compared to analyst estimates of $0.50 million. Allied Gaming & Entertainment had a negative net margin of 456.92% and a negative return on equity of 69.97%.
Allied Gaming & Entertainment Stock Performance
Shares of Allied Gaming & Entertainment stock traded down $0.01 during midday trading on Friday, hitting $2.90. 166,824 shares of the company traded hands, compared to its average volume of 1,207,501. The stock has a market cap of $18.50 million, a price-to-earnings ratio of -0.57 and a beta of 2.38. The firm’s fifty day moving average price is $2.12 and its 200-day moving average price is $2.23. Allied Gaming & Entertainment has a 12 month low of $1.51 and a 12 month high of $13.68.
Analyst Ratings Changes
AIFA has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allied Gaming & Entertainment in a research report on Friday, July 17th. Wall Street Zen upgraded Allied Gaming & Entertainment from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Allied Gaming & Entertainment presently has an average rating of “Sell”.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Corient Private Wealth LLC acquired a new stake in shares of Allied Gaming & Entertainment during the 4th quarter valued at $262,000. XTX Topco Ltd acquired a new position in Allied Gaming & Entertainment in the 4th quarter worth about $26,000. Susquehanna International Group LLP bought a new position in Allied Gaming & Entertainment in the third quarter valued at about $90,000. Virtu Financial LLC acquired a new stake in shares of Allied Gaming & Entertainment during the third quarter valued at about $27,000. Finally, Geode Capital Management LLC boosted its stake in shares of Allied Gaming & Entertainment by 14.4% during the second quarter. Geode Capital Management LLC now owns 244,608 shares of the company’s stock valued at $634,000 after purchasing an additional 30,706 shares in the last quarter. 3.21% of the stock is currently owned by institutional investors.
Allied Gaming & Entertainment Company Profile
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.
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