Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Short Interest Down 24.1% in September

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) was the target of a large decline in short interest in September. As of September 30th, there was short interest totalling 150,400 shares, a decline of 24.1% from the September 15th total of 198,100 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 53,800 shares, the days-to-cover ratio is currently 2.8 days.

Allied Gaming & Entertainment Stock Performance

Shares of NASDAQ:AGAE opened at $1.24 on Monday. The stock has a market capitalization of $56.44 million, a price-to-earnings ratio of -13.78 and a beta of 1.35. Allied Gaming & Entertainment has a 1-year low of $0.61 and a 1-year high of $1.57. The company has a 50 day moving average price of $1.31 and a 200 day moving average price of $1.10.

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

Institutional Inflows and Outflows

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