Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Up 21.8% in February

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 143,000 shares, a growth of 21.8% from the February 13th total of 117,400 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 26,400 shares, the days-to-cover ratio is currently 5.4 days.

Allied Gaming & Entertainment Price Performance

Shares of Allied Gaming & Entertainment stock opened at $1.13 on Thursday. The company has a 50 day simple moving average of $1.03 and a two-hundred day simple moving average of $1.09. The firm has a market cap of $49.63 million, a PE ratio of -4.17 and a beta of 1.48. Allied Gaming & Entertainment has a 1 year low of $0.61 and a 1 year high of $1.57.

Institutional Trading of Allied Gaming & Entertainment

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

About Allied Gaming & Entertainment

Allied Gaming & Entertainment, Inc operates as an experiential entertainment company, which engages in the creation of esports venues and live events for both video games and poker. The company was founded in 2017 and is headquartered in New York, NY.