Allied Gaming & Entertainment (NASDAQ:AGAE) Trading Down 2.7% – Should You Sell?

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE)’s stock price traded down 2.7% on Monday . The company traded as low as $0.90 and last traded at $0.92. 22,075 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 36,925 shares. The stock had previously closed at $0.95.

Allied Gaming & Entertainment Stock Down 2.7 %

The firm’s 50 day moving average is $0.94 and its 200-day moving average is $1.18. The firm has a market cap of $40.75 million, a PE ratio of -3.42 and a beta of 1.40.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Allied Gaming & Entertainment stock. Geode Capital Management LLC increased its stake in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) by 19.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 216,856 shares of the company’s stock after buying an additional 35,385 shares during the period. Geode Capital Management LLC owned about 0.49% of Allied Gaming & Entertainment worth $297,000 at the end of the most recent reporting period. 3.21% of the stock is owned by institutional investors and hedge funds.

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.