Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Up 51.7% in November

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 149,700 shares, an increase of 51.7% from the October 31st total of 98,700 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average trading volume of 29,700 shares, the short-interest ratio is presently 5.0 days.

Allied Gaming & Entertainment Stock Performance

Allied Gaming & Entertainment stock opened at $1.01 on Friday. The stock has a market cap of $44.55 million, a PE ratio of -3.74 and a beta of 1.38. The stock has a 50-day moving average price of $1.20 and a 200 day moving average price of $1.17. Allied Gaming & Entertainment has a 52 week low of $0.61 and a 52 week high of $1.57.

Hedge Funds Weigh In On Allied Gaming & Entertainment

A hedge fund recently raised its stake in Allied Gaming & Entertainment stock. Geode Capital Management LLC grew its stake in shares of Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 19.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 216,856 shares of the company’s stock after buying an additional 35,385 shares during the period. Geode Capital Management LLC owned 0.49% of Allied Gaming & Entertainment worth $297,000 as of its most recent SEC filing. Institutional investors 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.