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

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 120,200 shares, a decline of 20.1% from the September 30th total of 150,400 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average trading volume of 38,900 shares, the days-to-cover ratio is currently 3.1 days.

Hedge Funds Weigh In On Allied Gaming & Entertainment

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Innealta Capital LLC boosted its position in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 100.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 117,582 shares of the company’s stock after purchasing an additional 58,791 shares during the quarter. Innealta Capital LLC owned about 0.27% of Allied Gaming & Entertainment worth $119,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 3.21% of the company’s stock.

Allied Gaming & Entertainment Stock Performance

Shares of AGAE opened at $1.18 on Wednesday. The stock has a market capitalization of $53.71 million, a P/E ratio of -13.11 and a beta of 1.35. The company’s fifty day moving average is $1.31 and its two-hundred day moving average is $1.13. Allied Gaming & Entertainment has a 1 year low of $0.61 and a 1 year high of $1.57.

Allied Gaming & Entertainment (NASDAQ:AGAE) last announced its quarterly earnings data on Monday, August 19th. The company reported ($0.09) earnings per share (EPS) for the quarter. The firm had revenue of $2.64 million during the quarter. Allied Gaming & Entertainment had a negative net margin of 79.30% and a negative return on equity of 7.27%.

Allied Gaming & Entertainment Company Profile

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.